Petrom eyes annual profit of 1.11 bln lei

Petrom, Romania’s biggest company said it expected an annual net profit of 1.11 billion lei this year, up slightly from last year and turnover to slide by a third, according to the revenues and expenses budget passed by shareholders.Last year, Petrom reported after-tax profit of 1.02 billion lei (278 million euros), 43% down from a year earlier, following large provisions that triggered 1.296 bln lei loss in fourth quarter 2008. For this year, Petrom expects the turnover to stay in the ...

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