Profit of MOLʼs Austrian subsidiary grows in 2014

City

Net profit of MOL Austria Handels, a subsidiary of Hungarian oil and gas company MOL, increased to €3.9 mln in 2014 from €66,000 in 2013, Austrian newspaper Wirtschaftsblatt said yesterday.

Business restructuring and better margins helped profits rise, offsetting a fall in oil prices, according to MOL Austria.

The company operated 26 filling stations in Austria last year. The company closed seven stations in 2014 as they were loss-making.

Restructuring of the company begun in 2013 is still ongoing and Wirtschaftsblatt expects MOL Austria to close more filling stations in the future.

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