PGNiG declares PLN 3 billion profit
PR dla Zagranicy
Roberto Galea
05.03.2015 16:54
One of Poland’s biggest companies, gas provider PGNiG, has published a f/y profit of PLN 2.8 billion for 2014, higher than forecast.
Photo: PGNiG press materials
The positive results in the fourth quarter of last year were partly due to the lower cost of gas imports.
“PGNiG beat expectations mainly due to lower costs of gas purchases and an improved result in the distribution segment,” Andrzej Kubacki, an equity analyst at ING Securities, told the Reuters news agency.
Shares on the Warsaw Stock Exchange jumped by over five percent in early trading on Thursday, after the company posted a quarterly net profit of PLN 688 million – or around USD 184 million.
Analysts polled by Reuters predicted a quarterly profit of PLN 72 million.
The company has already announced a dividend payout. “The Management Board of Polskie Górnictwo Naftowe i Gazownictwo SA (PGNiG) resolved on 5 March 2015 to recommend that the General Meeting of PGNiG allocates PLN 944,000,000 from the 2014 non-consolidated net profit to shareholders as dividend,” the company said on Thursday.
This translates to a payout at a level of PLN 0.16 (USD 0.04) per share. (rg)
Source: PAP, Reuters