Almost 50% growth for MOL Romania

Magyar Olaj es Gazipari (MOL) group reported 49.4% higher fuel sales in Romania in the first half of this year, compared with the first six months of 2005. The trend was triggered by the expansion of the filling station network in the wake of Shell Romania takeover and also by the rising average sold volumes. Sales generated by stores operating inside Romanian petrol stations advanced by 38.4% from last year’s H1, according to the half-year financial report filed by the Hungarian group, quoted by Mediafax. The company operates 138 fuel retail stations domestically, and estimates its share of the Romanian market at 13%. Contacted by ZF, the company’s representatives chose not to comment on the information by time the story was ready for print. At the level of the entire group, MOL posted 19% higher net income in the second quarter, to Ft76.7bn, (284m euros), beyond analyst expectations putting income at around Ft64bn. The advance came amid rising oil prices, the gap between Brent and Ural oil quotes and the higher sales. Operating income rose by 32% in the second quarter, to Ft102.3bn, while net sales increased by 29%, to Ft702.2bn.