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Puma Energy announces positive H1 2016 results

Puma Energy has announced an increase in gross profit adn EBITDA in the first half results for 2016, as the company implemented a growth campaign that took its total number of gas stations to over 2,400.



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A 21% increase in sales volumes pushed gross profit to 816 million, up 13% from the 722m of 2015´s first half results. The energy company also posts a positive EBITDA boasting 19% growth to bag 391 million.

Apart from increasing its number of fuel stations across the world, Puma Energy has also invested in expanding and building fuel terminals, especially in African countries such as Angola, Ghana and Congo.

“Despite global challenges and currency devaluations, our solid operating performance and working capital discipline has resulted in operating cash flows that fully financed our strategic capex and acquisitions. This stability will help us to seize on select opportunities and continue to invest in our key markets,” commented Denis Chazarain, CFO at Puma Energy.

Quarterly downstream volumes are up by 18% to 5.3m3, from UK acquisitions and organic growth in Americas and Asia Pacific.

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