Grupa Azoty profit down

Polish chemical giant, Grupa Azoty recorded net profits of PLN 225.7 million in Q1, whereas in the corresponding period last year, the results totaled PLN 272.37 million. Consolidated sales revenue reached PLN 2.68 billion, compared with PLN 2.47 billion one year ago. The company's operating profit amounted to PLN 313.67 million versus PLN 389.23 million y/y. Grupa Azoty plans PLN 1.3 billion CAPEX this year. “The funds will be put i.a. to a new heat and power plant and modernization of synthetic gas compression station at Kędzierzyn-Koźle as well as a granulated fertilizer facility and modernization of nitric acid production infrastructure in Puławy,” the firm said.