UPDATE 1-Argentina’s YPF posts 2017 profit of $627 mln vs 2016 loss

(Adds financial details on 2017 and 2016)

BUENOS AIRES, March 2 (Reuters) – Argentina’s state-owned oil company YPF SA posted a full-year 2017 profit of 12.7 billion pesos ($627.16 million), the company said on Friday, rebounding from a 28.4 billion-peso loss in 2016.

Fourth-quarter profit rose to 12 billion pesos compared with 1.8 billion pesos in the year-earlier quarter and 246 million pesos in the 2017 third quarter, the company said.

YPF said 2016 results had been hit by the deterioration of its properties, plant and equipment and weak global crude prices.

Last year, the company’s earnings before interest, taxes, depreciation and amortization grew 14.7 percent to 66.8 billion pesos, while operating income rose to 16.1 billion pesos from a 24.2 billion-peso loss in 2016.

YPF’s net profit per share ended 2017 at 31.43 pesos, after rising to 30.59 pesos in the fourth quarter from 0.24 peso in the third quarter. ($1 = 20.3 pesos) (Reporting by Juliana Castilla Editing by Matthew Lewis)

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