PKN Orlen posts net profit for 2003

The full report will be presented on February 26. "Results are very good, but a company with such potential should post profits of zł.1.5-2 billion annually," believes Rafał Jankowski, an analyst with CDM Pekao SA. In his opinion, external conditions were in favor of Orlen's results and moreover the company disposed of part of its assets, as part of its restructuring. In 2004, the company plans to close 300 of its least profitable gas stations, which should generate zł.800 million in savings. "The oil concern will find it harder to boost results in the future," said Sebastian Słomka, BDM PKO BP analyst. (Puls Biznesu, pp. 1, 6) M.M.