Energa profit below consensus

Poland’s fourth largest power utility Energa recorded a consolidated net profit of PLN 283.3 million in the second quarter of 2014, the company said in its financial report. Analysts polled by the Polish Press Agency had expected the result to be PLN 293.4 million. Energa’s operating profit in Q2 2014 amounted to PLN 422.6 million. It was higher than a market consensus of PLN 408.3 million. The company’s revenue in Q2 stood at PLN 2.54 billion, 5.1 percent lower than market consensus. Energa said that revenue grew by 19 percent in its power generation segment and by 3 percent in the distribution segment. It declined by 22 percent in the sales segment.