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.
