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Galychyna (HANZ) Refinery Posts USD 1.5mn Profits In 2004

Galychyna (HANZ) Refinery Posts USD 1.5mn Profits In 2004

17 May 2008

The company almost doubled its sales in 2004 posting USD 592 mn (up 91% yoy).  Concorde Capital: Enormous sales growth is due high oil products price and the increase of refining volume (up 5.8% in 2004). However, such low net margins (0.26%, significantly down from 1.4% in 2003) suggests that the company is inflating its costs.

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