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Puma Energy boasts strong cash flow in 2016 results

Global energy company Puma Energy increased their profit by 7% and reached record sales of 22 million cubic metres in 2016.

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Midstream and downstream company Puma Energy has released its full year results for 2016, showing growth on all sections of the company after a successful 2016. Puma Energy increased its gross profit by 7% to $1.6 billion and EBITDA to 755 million – up 12% from 2015.

Through investments in Africa and South America, the company expanded its retail network from 2,362 gas stations in 2015 to 2,519. It also opened 14 new airport facilities during the year.

“2016 was a year in which we focused on driving cash flow generation and EBITDA growth across the business, whilst reducing capex and concentrating on strengthening management teams, operational capabilities and IT infrastructure,” Denis Chazarain, CFO. 

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