Falling sales but rising profits hallmark Orlen's Q1 results

The results are due to high oil prices, as well as the lowering of operating costs. In the first three months of 2005, savings amounted to zł.216 million, while a year earlier the figure stood at zł.143 million. By the end of May, Orlen should conclude the $480 million deal to take over Czech competitor Unipetrol. Thanks to its improving results, Orlen will only need 10% of the funds from external sources. Company president Igor Chalupec announced that the concern has implemented a centralized purchasing system, which should soon encompass all companies from the capital group. One of the most important tasks of the group in the approaching weeks will be to modernize its regional structures, which should help counter dropping retail sales. (Parkiet, p. 5) M.M.