Grupa Azoty with profit despite negative expectations

Poland’s largest chemical holding Grupa Azoty recorded a consolidated net profit of PLN 4.5 million in the third quarter of 2014. Analysts surveyed by the Polish Press Agency had expected a net loss of PLN 7 million. The company’s operating profit amounted to 1.2 million in Q3 compared to an expected PLN 0.2 million. Sales revenue stood at PLN 2.27 billion compared to market consensus of PLN 2.22 billion. Revenue in the chemicals segment grew by 15.7 percent year-on-year and in the plastics segment it grew by 5 percent. The remaining segments recorded declines in sales.