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Poland's PKN Q1 net rises to $496 mln, as expected
April 27, 2017 / 5:18 AM / 5 months ago

Poland's PKN Q1 net rises to $496 mln, as expected

WARSAW, April 27 (Reuters) - Poland’s biggest oil refiner PKN Orlen said on Thursday that its first-quarter net profit rose to 1.92 billion zlotys ($495.51 million) from 337 million a year earlier, helped by an insurance payment, fuel sales and oil prices.

The profit was in line with analysts expectations at 1.9 billion zlotys.

The group’s adjusted operating profit, the so-called EBIT LIFO which removes the impact of crude oil price changes, came at 1.76 billion zlotys versus 1.80 billion zlotys expected by analysts. ($1 = 3.8748 zlotys) (Reporting by Agnieszka Barteczko; Editing by Christian Schmollinger)

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