Pkn Orlen announces financial result for Q2

According to Reuters, Pkn Orlen reported a lower net profit in April-June period. Accordingly, the company’s net profit fell by 4% to 1.54 billion zlotys ($425 million) in the second quarter on a yearly basis. This result defied the analysts’ expectation of a rise of 1.87 billion zlotys ($513 million).

However, the company’s sales increased by 19% in the second quarter to 23 billion zlotys ($6.3 billion) on the back of insurance payments as well as new regulations entered into force in last year in order to prevent the black market of fuel sales.