Galnaftogaz's concern sees UAH 372 m in net losses

The net losses of Lviv-based OJSC Galnaftogaz, the owner of one of the largest fuel station chains in Ukraine, in 2008 tentatively were UAH 371.661 million, while in 2007 the company saw UAH 22.605 million in net profit.

This comes from an announcement on the holding of a general meeting of its shareholders scheduled for April 27, 2009 published in the mass media.

Its total assets last year grew 1.5 times or UAH 1.17.8 billion year-over-year, to UAH 2.972.388 billion, and its main assets soared 1.6 times or by UAH 491.505 million, to UAH 1.295 billion.

The company's total bills receivable in 2008 grew almost 1.7 times or by UAH 306.771 million, to UAH 774.856 million, its current commitments grew 1.5 times or by UAH 265.491 million, to UAH 782.642 million, while its long-term commitments grew 2.4 times or by UAH 947.365 million, to UAH 1.63 billion.

According to a company press release, its net income from sales last year was estimated at UAH 5.593 billion, which is almost 1.7 times or UAH 2.263 billion up year-over-year.