Grupa Azoty with PLN 72.7 mln profit

Poland’s largest chemical producer Grupa Azoty  generated a consolidated net profit of PLN 72.7 million in Q2 2014, higher than the PLN 52.5 million expected by analysts surveyed by the Polish Press Agency. The holding’s operating profit amounted to PLN 103.5 million compared to analysts’ expectations of PLN 80.3 million. Consolidated revenue came in at PLN 2.37 billion compared to a consensus of PLN 2.41 billion. Grupa Azoty said that its revenue was most affected by lower sales in the fertilizer and plastics segments. The net profit was in turn affected by a PLN 446.1 million gain on the purchase of shares in subsidiary ZA Puławy.