ECONOMY

HELPE profits up 80% in Q4 2021

HELPE profits up 80% in Q4 2021

Hellenic Petroleum (HELPE), Greece’s biggest oil refiner, on Thursday posted an 80% rise in fourth-quarter core profit on higher refining margins and increased demand for fuel following the lifting of Covid restrictions.

Stripping out oil inventory holdings, earnings before interest, tax, depreciation and amortization (EBITDA) came in at 138 million euros in the three months to December, versus €77 million in the same period the previous year. [Reuters]