December 6, 2022

Wire Service Canada

Complete Canadian News World

Saras’ profit doubled

The first half of 2022 is smiling Saras For the former Inter sponsor, Massimo Moratti. Thanks to the increase in the prices of petroleum products recorded in recent months, the company is the former number one of the Nerazzurri Experienced a significant increase in revenue. An increase of almost 59% compared to the first half of 2021, which recorded profits of $ 3.7 billion, compared to 7.7 recorded in the first half of this year “with a total operating margin of 688.5 million (compared to 108.7 million). The reported net profit was 292.5 million euros compared to 0.5 million euros in the first half of last year “as mentioned in Football and finance.



“The second quarter was marked by harsh market conditions that demonstrated with all their attractiveness the importance of traditional energies and the need for diversification of sources. Thanks to its business model, strategic location and the diversity of its factories, Saras was able to meet market demands, maximizing processing to meet growing demand. The financial results were very satisfactory, in fact allowing us In just one quarter, we have rediscovered the historical ability of our business to generate cash, eliminating the financial position inherited from the Covid period.Although the outlook for the second half is now characterized by high uncertainty, in the medium term we see positive fundamentals in the refining sector, which We want to contribute to it with our continued commitment to ensuring energy safety,” Moratti commented.