Italian oil refiner Saras SpA (SRS.MI) Friday said its board had proposed no dividend distribution on its 2010 results.

Saras, the country's No. 2 independent refiner, also confirmed in a statement the preliminary results for the year that it published Feb. 25.

It suffered a group net loss of 9.5 million in 2010 compared with a profit of EUR72.6 million for the prior year.

-Gilles Castonguay, Dow Jones Newswires; +39 02 5821 9908; gilles.castonguay@dowjones.com
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