Ducsa sees annual profits rise 30%

Ducsa, the distribution arm of Uruguay's state oil company Ancap, reported annual profits of US$13.7mn for 2009, up 30% from the year before. Revenues totaled US$950mn last year, Uruguay's presidential press office said in a statement. The firm will continue to implement Ancap's plans for future development, with a specific focus on biofuels, Ducsa president German Riet said in the statement. Around 19 of the firm's service stations already stock the ISO 14000 biofuel, with Ancap looking to increase its presence over the next year. Biofuels are seen as an important area for economic growth in Uruguay because of its strong agricultural base. Riet also said that Ducsa would repay the debt incurred through the purchase of all Texaco fuel stations across Uruguay in 2007 within the next "three or four years." Ducsa operates around 300 service stations throughout Uruguay with a supply fleet of 100 fuel trucks. Over half of the firm's profits go towards the Uruguayan state.