Mol Profits Continue to Dive

摘要

Hungarian integrated oil firm Mol has reported a 56% year-on-year drop in net earnings to 32.3 billion forints ($142 million) for the first quarter of 2013, following the steepest profit fall in the company's 22-year history reported for full-year 2012. "Slow economic growth, continuous pressure on motor fuel demand and a tight regulatory environment remained the key external challenges," said Mol Chairman Zsolt Hernadi in a statement accompanying the firm's firstquarter consolidated results. "But we also feel the lack of our Syrian assets, which created a visible gap in our portfolio," he added.