Polonium

Thursday, February 25, 2010

Polish PKN swings to $102 mln Q4 net profit

Poland's leading refiner PKN Orlen PKNA.WA swung to a worse-than-expected profit of 302 million zlotys ($102 million) in the fourth quarter, as one-off gains helped to offset poor operating conditions, the refiner said on Thursday.

PKN's Oct-Dec net profit came in below 315 million zlotys seen by analysts and significantly above the last year's net loss of 4.9 billion zlotys, when massive one-offs tied to impairment charges, dropping oil prices and the weakening zloty hit results.

Read more:http://uk.reuters.com/article/idUKLDE61N27O20100225