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SPP reports increased profit thanks to reorganisation

SPP
Ilustračné foto. SITA

The gas utility Slovensky Plynarensky Priemysel posted a pre-tax profit of 483 million euros in 2014, up by 186 million euros (63 percent) compared to the year 2013.

The gas utility Slovensky Plynarensky Priemysel (SPP) reported a year-on-year increase in profit last year primarily thanks to the dividends and profits from the sale of the investments related to the last year’s reorganization. SPP reported a pre-tax profit of 483 million euros in 2014, an increase by 186 million (63 percent) compared to the previous year. The company’s profit after tax amounted to 289 million euros, representing an increase by 21 million euros. The sale of 49% of SPP Infrastructure was the part of last year’s reorganisation process. The company claims that it has significantly improved the results in household segment, which, according to former foreign shareholders of SPP, was loss-making every year, a spokesman for SPP Michal Holes informed the portal vEnergetike.sk.

Full story in Slovak: K zisku SPP pomohli dividendy aj reorganizácia

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