Macedonias oil refinery OKTA boosts sales revenues by 9.1% y/y in Q1 2012.

By bne IntelliNews May 22, 2012
The sales revenues of Macedonia's sole oil refinery, OKTA, increased by 9.1% on the year to MKD 9.59bn (EUR 155.9mn), according to its income statement published on the securities commission website. The oil refinery is the countrys largest company in terms of sales. Sales on the domestic market expanded by 7.7% y/y to MKD 6.4bn in Q1, and exports grew by 12% y/y to MKD 3.19bn. The company reported an operating loss of MKD 83.6mn in the first quarter of this year, reversing an operating profit of MKD 251.1mn a year earlier. The oil refinery also posted a net loss of MKD 11.9mn in Q1, reversing a net profit of MKD 251mn a year earlier. EL.P.ET. Balkaniki, a subsidiary of Greek oil group Hellenic Petroleum, owns an 81.51% stake in OKTA.

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