Shell Romania profits fall by 5m euros

Shell”s petroleum product retail subsidiary in Romania posted an over five million euro decline in gross profits from a turnover that rose from 5,675bn ROL to 6,357bn ROL (156.8 million euros) in 2004, its last year in business in Romania, company data show. Shell Romania made gross profits of 284bn ROL (7 million euros), compared with gross profits of 459.2bn ROL (12.2 million euros) in 2003, with net profits amounting to more than 398bn ROL (10.6 million euros). The same year saw the company post a 36% higher turnover of 5,675bn ROL (151 million euros). Shell posted losses for every year between 1999 and 2002. In November last year MOL bought the whole of Shell Romania, after having acquired 23 stations from the group on the Romanian market. Following the transaction, which was finalised in March, Shell Romania will become MOL Ro Comert. Mediafax