EnglishButanGas posted a net profit of 1.27 million EUR in the first half of 2007, up three times from the same period last year. Turnover amounted to 29.6 million RON in the first six months, recording a 25% rise from the corresponding period on 2006.
The positive financial results are mainly due to the massive investments the company has made in the past few years, according to Veronica Gusa de Dragan, CEO of the ButanGas Group. She added that the company plans to maintain and improve its growth rate and profit and consolidate its position in the Romanian LPG market.
ButanGas Romania ended last year with a turnover of 56.8 million EUR, while net profit rose by 93% to 2.15 million EUR. At the end of 2006, ButanGas Romania was a market leader on the propane distribution segment, with a 40% market share. The other major players in this field are Shell Gas, Crimbo Gas, Mol and Agip.
The majority shareholder in the company is ButanGas Group with 93.9%, followed by Petrom SA with 6%.
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