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Czech Unipetrol’s net profit slumps 70% on year in Q4

by ChemOrbis Editorial Team - content@chemorbis.com
  • 28/01/2016 (17:16)
According to media reports, the Czech Republic’s Unipetrol’s net profit fell around 70% to CZK182 million ($7.3 million) in the fourth quarter from CZK598 million ($24.1 million) in the same period of 2014, showing a steeper fall than analysts’ expectations, which called for a decrease to CZK249 million ($10 million) in a survey by Reuters.

The decrease was attributed to an unexpected shutdown at the company’s petrochemical units at its Chempark Zaluzi site in Litvoniv in mid-August. The company halted production at the site following an explosion and fire stemming from a propylene leakage. The site is still shut and is expected to resume production in March.
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