Conpet H1 net profit up by 44.2 pct to 31.18 ml lei

National transporter of oil and petroleum products Conpet posted a net profit of 31.180 million lei in H1 2019, by 9.554 million lei (44.2 percent) higher compared to the 21.626 million lei reported in the same period of the previous year, shows a company report submitted to the Bucharest Stock Exchange. 

The operating profit as of June 30, 2019 was by 9.804 million lei (42.1 percent) higher compared to the same period of 2018. 

The company reported in H1 a turnover of 200.6 million lei, up 8.5 percent YoY. Transport revenues account for 98 percent of the turnover. Other revenues are derived from leasing out land and telecommunications equipment, operating rolling stock, the sale of tubular material, etc. 

Operating expenses in H1 2019 amounted to 183.208 million lei, by 3.7 percent higher compared to the figure registered in H1 2018, mainly due to the increase of personnel expenditures and provisions. 

The 5.084 million lei increase in personnel expenditures was partly due to the disbursement to the employees of the profit participation fund for various periods.