Poland's Grupa Lotos raises 2007 net profit forecast by 13 pct to 713 mln zlotys

WARSAW (Thomson Financial) - Poland's second largest oil company Grupa Lotos has raised 2007 net profit forecast by almost 13 pct to 713 mln zlotys, citing expectations for higher refining output and more expensive crude, the company said today.

Lotos also expects to have 12.935 bln zlotys in sales this year, up a touch from a year earlier.

In September the company, which is due to release its third-quarter results tomorrow, forecast its net profit this year would fall to 634 mln zlotys from 666 mln zlotys a year earlier and the sales will reach 12.8 bln zlotys.

source: forbes.com