Puma Energy has recorded its highest ever gross margin and EBITDA.
Its 2016 first quarter financial results, sales volumes increased by 22%, reaching a new quarterly record level of 5.2 million m3.
Total storage capacity has swelled to 7.8 million m3 and investments in major construction projects in Africa and Asia Pacific totalled $186 million.
CFO Denis Chazzarain says: ‘Puma Energy has begun the year with a very strong first quarter, reflecting continuous growth in sales, volumes and record levels of gross margin and EBITDA despite obvious challenges in the wider market.
‘This success comes down to solid operating performance and good working capital discipline, which together, maintain a resilient business model that delivers solid, consistent results.
‘We believe we have now reached a full global scale with our integrated business model, and look forward to further growth throughout 2016.’