Statoil Fuel & Retail Q3 results: strong financial performance in Scandinavia, depres

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    Statoil Fuel & Retail Q3 results: strong financial performance in Scandinavia, depres

    (PR-inside.com)
    26 October 2011 - Statoil Fuel & Retail ASA ("Statoil Fuel & Retail",Ticker:SFR) reports decreased operating profits in the third quarter, mainly due to lowroad transportation fuel unit margins in Central and Eastern Europe (CEE) and anexpected decrease in gross profit from fees and services. In Scandinavia, roadtransportation fuel volumes were stable and the road transportation fuel unitmargin remained strong. The cost savings programme is ahead of plan and theoverall cost savings target for 2011 is increased for the second time this year,to NOK 90 million. Convenience sales and profitability in Central and EasternEurope continued to show positive development.The company's ..

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