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MOL’s Slovak refiner Slovnaft H1 net drops 32%

Slovak refiner Slovnaft, a unit of Hungary’s group MOL, said on Friday its net profit dropped 32% year-on-year in the H1 to 2.87 billion koruna ($146.3 million).

Slovnaft said the drop came due to maintenance work and a strengthening of the Slovak koruna against the US dollar and the euro. Revenue rose 21% to 61.36 billion from 50.82 billion, the refiner said in a statement.

MOL will report its first half results on Tuesday, Aug. 12. Its consolidated full-year revenues totaled €10.3 billion in 2007, of which Slovnaft accounted for €3.6 billion. (Reuters)