Market Overview

Galp Q2 Adjusted Profit Drops 33%

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Portuguese company Galp Energia SGPS SA (OTC: GLPEY) reported a 33% drop in its second-quarter adjusted net profit.

Galp's quarterly adjusted net profit declined to 86 million euros ($114 million), versus EUR129 million, in the year-ago period.

Galp posted a quarterly net loss of EUR36 million, versus a year-ago loss of EUR15 million. Its refining margins rose to $3.40 per barrel from $2.50 per barrel.

Posted-In: lossEarnings News

 

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