Poland's PGNiG gas firm Q1 net profit up, better than f'casted

WARSAW Fri May 9, 2014 12:48am EDT

Related Topics

WARSAW May 9 (Reuters) - Poland's dominant gas firm PGNiG said on Friday first-quarter net profit rose 10 percent from the same period a year earlier, despite concerns that a mild winter had reduced demand for energy.

PGNiG reported a bottom line of 1.18 billion zlotys ($390.9 million), compared with an average forecast from analysts of 955 million zlotys.

"The increase was primarily due to a rise in crude oil sales and higher profitability in gas sales," the company said in a statement. ($1 = 3.0184 Polish Zlotys) (Reporting by Marcin Goclowski; Editing by Edwina Gibbs)