The gas company SA “Moldovagaz” last year made a net profit of 1.926,1 billion lei, an increase of 1.663,7 billion lei on a year before. The rise was mainly due to the profit made from financial activity and from operational activity following the enhancement of management, optimization of costs and improvement of production indicators.

The information was presented in the annual General Assembly of Shareholders of SA “Moldovagaz” that was held on May 25, IPN reports. The assembly decided that the company’s net profit will be used to constitute a reserve fund and to cover the losses for the previous years.

The number of gas users last year rose by 15,600 to about 705,000 at yearend. Investments of 221.5 million lei were made in 2017. The gas pipelines were extended by 248.5 km.

In a press release, the company said in 2018 its activity will be aimed at consistently providing the users with natural gas and at ensuring the transportation of gas in the required volumes to the European states, at improving the financial indicators and making operational profit.