Petrom’s 2009 profit zooms 33% amid recession

The oil and gas company OMV Petrom said in its preliminary report filed to Bucharest Stock Exchange its net profit jumped 33% from 1.02 billion lei in 2008 to 1.36 billion lei (€321 million) in 2009.In 2008, the company recorded net profit of 1.02 billion lei and turnover of 16.7 billion lei. OMV Petrom’s turnover fell 23% to 12.8 billion lei (€3.03 billion), while revenues shrank 26% to 14.3 billion lei (€3.3 billion) from a year earlier. Expenses narrowed 29% year-on-year ...

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