Romania's Rompetrol Rafinare said on Friday itturned to a net profit
of$5.2million (4.2 million euro) in the thirdquarterfrom a loss of $7.7
million a year earlier,while turnover grew8.0% to $1.55 billion.
The
positive result was dueto a 12% increase in thequantities of processed raw
materials, to the optimisation ofthe fuel distributionchannels in Romania and
to lower operatingcosts,Rompetrol Rafinare said in a statement.
In the
first nine months of the year, the company's net loss halved to $41.8 million
from $86.1 million a year ago.
Earnings before interest, taxes,
depreciation and amortisationsurged 315% to$62.6 million in the nine months
through September, while grossturnover rose 27% to $4.34
billion.
Rompetrol Rafinare is the refining unit of The Netherlands-based
KMG International NV, formerly The Rompetrol Group, which is fully owned by
Kazakh state-owned energy company KazMunaiGaz Group.
The results are
consolidated and unaudited and are reported under the International Financial
Reporting Standards.Rompetrol Rafinare’s consolidated financial statements
includethe petrochemical activity and those of Rompetrol Quality Control S.R.L,
Rom Oil S.A., Rompetrol Downstream S.R.L., Rompetrol Logistics S.R.L. and
Rompetrol Gas S.R.L.