May 18, 2018 / 6:58 AM / 2 months ago

UPDATE 1-Slovenian fuel retailer Petrol's Q1 net profit rises 11 pct

(Updates with quote, details)

LJUBLJANA, May 18 (Reuters) - Slovenia’s largest fuel retailer Petrol reported an 11 percent rise in first-quarter net profit on Friday, helped by higher sales of gas after the company acquired local gas supplier Geoplin last year.

It also said it expanded sales of sold food, drinks and other products at its fuel stations.

Petrol, which operates nearly 500 fuel stations across Slovenia, Croatia, Bosnia, Serbia, Montenegro and Kosovo, said net profit for January-March totalled 17.9 million euros ($21 million) as sales rose by 6 percent from a year earlier to 1.2 billion euros.

The company said it was undergoing a complete renewal of its information technology system which would help it to remain competitive. Its main competitors include OMV in Slovenia and INA in Croatia.

“The Petrol group will continue with its active sales policy, optimisation of all business processes and efficient risk management. The achieved results show that the group is successful in pursuing its goals,” the company said in a statement.

$1 = 0.8469 euros Reporting By Marja Novak; Editing by Susan Fenton

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