Puma Energy has reported a 5% increase on its EBITDA in its second quarter financials.
Gross profit grew by 7% to $416 million, up from its second quarter 2016 results, due to stable volumes and improved unit margins from downstream activities.
EBITDA increase to $191 million compared to the same period last year.
The company says that storage capacity remained stable, while it started operations at five additional airports, mainly in Africa and the Asia Pacific.
Denis Chazarain, CFO, says: 'The group delivered another solid quarter.
'Capex has decreased significantly across regions and business segments, as several major construction projects have been completed. Majority of the capex in the first half of 2017 relate to storage construction projects in Ghana and Angola, which are both due to be completed during the second half of 2017.
'Furthermore, we continued the construction of Rostov airport in Russia, and development of the retail network in Africa, the Americas and Asia Pacific.'
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