Czech petrochemicals company Unipetrol informed that revenues increased after the company divested its Spolana activities.
Unipetrol reported that while sales volume grew in all segments, the company´s fuel retail operations through its Benzina arm were the strongest supporter. As a result of the sale of 136 million liters, the company saw sales growth of 26%. Despite generally low margins on the Czech market, Unipetrol´s Benzina unit reported revenues of 1.7 billion Czech koruna (€595 million), which was an 18.7% increase over Q1 2006.
The company added that, based on recent market data, the Unipetrol group holds a 35% share in gasoline and a 32% share in diesel sold on the Czech market. Unipetrol said that, during the remainder of 2007, a significant part of the work to modernize the retail network of its Benzina arm will be completed. The company said that 156 of its total 319 Benzina-branded filling stations will be reconstructed, while 78 of them will be upgraded to the Benzina Plus premium brand.
Unipetrol concluded that that continued restructuring and the successful performance of all its segments were the main driving force of the company´s strong results in Q1 2007 and added that, looking forward, the company will continue to implement its new corporate governance model to improve efficiency. (petrolplaza.com)