Grupa Lotos posts excellent Q1 results

This result is better by over 50% than that recorded in the same period in 2003. The company had sales revenues of zł.2.23 billion as compared to zł.1.93 last year, while the Q1 profit accounts for almost 70% of the projected total profit this year, which is zł.132.7 million. "The profit is a result of our strategy to strengthen the company's market position and the success of our restructuring, which has clearly effected our cost effectiveness," announced Paweł Olechnowicz, Grupa Lotos president. The company is set to have its shares debut on the Warsaw Stock Exchange in April 2005. (Parkiet, p. 4) A.K.