Wednesday, August 6, 2008

Romania's Petrom net profit up 36 pct in Q2

BUCHAREST, Aug 6 (Reuters) - Romania's oil and gas group Petrom SNPP.BX, majority owned by Austria's OMV (OMVV.VI: Quote, Profile, Research, Stock Buzz), reported a 36 percent rise in net profit in the second quarter on Wednesday, far below market expectations.

Petrom posted a net profit of 687 million lei ($303.6 million), versus an average expectation of 935 million lei in a Reuters poll. Sales rose 70 percent to 4.55 billion lei.

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