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Unipetrol expects Q3 operating profit
October 19, 2012 / 6:06 AM / 5 years ago

Unipetrol expects Q3 operating profit

PRAGUE (Reuters) - Czech downstream oil group Unipetrol UNPEsp.PR said it expected an operating profit of a couple of hundred million crowns for the third quarter, after a second-quarter loss.

Unipetrol, majority owned by Polish group PKN Orlen PKNA.WA, booked a one-off positive EBIT impact of around 200 million crowns ($11 million)in the period.

Foreign exchange developments had a positive impact of about 130 million crowns, offset by losses on other financial instruments, the company said on Friday.

The results were also helped by higher prices for crude oil and refining and petrochemical products.

Unipetrol reported an operating loss of 437 million crowns in the second quarter due to inventory revaluation losses.

($1 = 18.94 Czech crowns)

(Reporting by Jana Mlcochova; Editing by Dan Lalor)

jana.mlcochova@thomsonreuters.com; +420 224 190 479; Reuters Messaging: jana.mlcochova.reuters.com@reuters.net

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