Grupa Azoty Q2 profit grows

WSE-listed chemical giant Grupa Azoty had a PLN 104.62 million net profit in Q2, compared to PLN 43.92 million profit a year earlier. Revenues amounted to PLN 2.18 billion, slightly up from PLN 2.15 billion last year. “The next quarter of reshuffle in the global plastics market, particularly the legislative changes in China, has reduced oversupply in the market, and the good news in the automotive and textiles sectors has given us hope for a continuation of the trend for the plastics segment, which had a PLN 146 million EBITDA, compared to a PLN 25 million loss last year,” Paweł Łapiński, company’s deputy finance director said.