Grupa Lotos with unexpected loss in Q3

Poland’s second-largest oil firm Grupa Lotos recorded a net loss of PLN 35 million in the third quarter of 2014, the companz said in its financial report. Analysts surveyed by the Polish Press Agency had expected the result to be a net profit of PLN 75 million. The company’s operating profit came in at PLN 79.6 million compared to a market consensus of PLN 248 million. Sales revenue stood at PLN 7.55 billion compared to an expected PLN 7.60 billion. Grupa Lotos said that its Q3 results were affected by a more than 7-percent decline of crude oil prices and an 8.2-percent strengthening of the US dollar against the złoty.