Sale of assets triples Shell Gas' profit

Shell Gas Romania, one of the leading players on the liquefied petroleum gas (LPG) distribution market, posted a net profit worth 7.4 million euros (24.7 million RON) in the first half of the year, almost three times higher against the same time last year. However, this winter’s high temperatures kept the turnover of the LPG operator at a similar level to the one registered during the first six months of last year, i.e. 32.2 million euros (107.5 million RON). “Overall, the volumes sold remained at a similar level to last year’s. They could have been much higher if the winter season had not seen high temperatures for that time of the year,” said Gabriel Stoicescu, general manager of Shell Gas Romania. In addition, the sale of a piece of land in the provinces tripled the company’s profit. “The company’s net profit increased by 190%, primarily due to the sale of some assets. We decided that we held fixed assets, which were not necessary for our operations. However, we will continue to invest heavily in marketing,” explained the Shell Gas Romania representative.