Turkish fuel and oil products retailer Petrol Ofisi AS (PTOFS.IS), or POAS, posted a net loss of 41.3 million Turkish lira ($25.9 million) in 2010, the Istanbul Stock Exchange's website showed Wednesday, reports Ihlas News Agency, or IHA.

POAS posted a net profit of TRY251.4 million a year earlier.

According to the Istanbul Stock Exchange's website, the net loss mainly stemmed from the rising cost of sales.

Income from sales rose to TRY16.1 billion in 2010 from TRY14.09 billion a year earlier, while cost of sales increased to TRY15.3 billion from TRY13.1 billion.

The company's operating profit fell to TRY249.0 million in 2010 from TRY566.4 million a year earlier.

At 0750 GMT, Petrol Ofisi shares were trading 0.29% higher at TRY7.02, on a 0.05% higher overall Istanbul market.

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