Poland’s Lotos Quarterly Profit Doubles

EMFIS.COM - Warsaw 02-28-08
Grupa Lotos, Poland’s second-largest oil company, announced Q4 net profits rose to 231.2 million zlotys (US$98.3 million) from 99.5 million zlotys a year earlier.

Full-year net profit hit 763.5 million zlotys, beating analyst estimates of 758 million zlotys by 7 percent.

Lotos plans to invest 5.6 billion zlotys into boosting annual production by 75 percent to 10.5 million tones by 2001, in order to better compete with domestic competitor PKN Orlen.
Source: finanzen.net