PKN Q3 operating profit doubles
WARSAW (Reuters) - PKN Orlen PKN.WA, Poland's top refiner, said it estimated that third-quarter operating profit doubled to around 1.4 billion zlotys ($447 million), matching market expectations.
A rise in oil prices increased the value of reserves held by PKN, it said on Friday, while a stronger zloty cut the size of its foreign-denominated debt.
A Reuters poll found a forecast for a 1.42 billion zlotys operating profit, thanks to a stronger local currency and higher crude oil prices.
Total throughput was flat at 7.4 billion tonnes with a 5 percent drop in output at domestic plants in its Plock business offset by a rise in production at PKN's foreign units.
Throughput at Unipetrol UNPEsp.PR in the Czech Republic s rose 11 percent, while at Mazeikiu in Lithuania it increased 5 percent.
The group will publish full results for the third quarter on October 25.
($1 = 3.1308 zlotys)
(Reporting by Maciej Onoszko; Editing by Dan Lalor)
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