ECONOMY

Hellenic Petroleum President Efthymios Christodoulou…

Hellenic Petroleum (HELPE) President Efthymios Christodoulou (left) and Managing Director Panos Cavoulakos at yesterday’s announcement of 2005 results. Greece’s largest oil refiner reported a group net profit rise of 161 percent to 334 million euros, mostly due to high refining margins. HELPE said earnings before interest, tax, depreciation and amortization (EBITDA) rose by a better-than-expected 80 percent to 671 million euros, with sales up 36 percent to 6.65 billion euros. The refiner said it would propose a 2005 total dividend of 0.43 euros per share, yielding 3.4 percent.