August 25, 2017 / 6:46 AM / a year ago

UPDATE 1-Slovenia's Petrol H1 group net profit up 6 pct

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LJUBLJANA, Aug 25 (Reuters) - Slovenian fuel retailer Petrol reported group net profit of 34 million euros ($40 million) for the first half of 2017 versus 32 million in the same period of 2016, boosted by higher sales.

Net sales rose by 26 percent to 2.2 billion euros, mainly due to higher oil prices, the company said in a statement on Friday.

“In Slovenia and Croatia the economic conditions are improving, while other countries in southeastern Europe, where Petrol is present, are still facing difficult economic conditions, low purchasing power and high unemployment,” it added.

Petrol operates 490 filling stations in Slovenia, Croatia, Serbia, Bosnia, Montenegro and Kosovo. Sales of oil products increased by 7 percent year-on-year when measured in tons.

$1 = 0.8480 euros Reporting by Marja Novak; Editing by Mark Potter

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