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Unipetrol Q2 loss widens on inventory revaluation
July 26, 2012 / 6:33 AM / in 5 years

Unipetrol Q2 loss widens on inventory revaluation

PRAGUE, July 26 (Reuters) - Czech downstream oil group Unipetrol posted a 598 million crown second-quarter loss, worse than analysts’ estimates and widening from the previous quarter due to inventory revaluation losses, it said on Thursday.

Analysts in a Reuters poll had expected on average a 480 million crown loss in the quarter after a loss of 361 million in the first three months of the year.

Unipetrol, majority owned by Poland’s PKN Orlen, showed a 437 million crown operating loss in the quarter, also wider than expectations. Revenue rose 4.5 percent on the year to 27.1 billion crowns, above expectations. (Reporting by Jason Hovet)

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