By Sean Carney
PRAGUE--Czech petrochemicals group Unipetrol AS (BAAUNIPE.PR)
Thursday said it returned to profit in the first three months of
the year after five straight loss-making quarters as first-quarter
sales improved on an annual basis in all segments.
Key Points
-Unipetrol posted a net profit of 937 million koruna ($47.2
million) in the first quarter, compared with a CZK148 million net
loss a year earlier.
-The company posted revenue of CZK28.81 billion in the period,
up 16% on year.
-Overall sales were driven by higher refining volumes thanks to
Unipetrol increasing its majority stake in Ceska Rafinerska AS, the
Czech Republic's largest refinery, in January.
-Retail sales were helped by the Czech government recently
enacting legislation that cracks down on illegal, tax-free sales of
motor fuels in competing independent filling stations, the company
said.
-Unipetrol is majority-owned by Poland's PKN Orlen SA.
Write to Sean Carney at sean.carney@wsj.com
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