PKN Orlen ranks 8th among CEE businesses

The data, which refers to 2005, revealed that the revenues of the ranked companies increased by 23% over the previous year. Russian companies contributed for 50% share in sales, Polish - 18% and Hungarian - 9%. Overall these companies have posted about $54 billion in net profits, which is over 16% more than in 2004. As with the previous year, the leader was Russian Lukoil, with revenues exceeding $55 billion. The highest-ranked Polish company was PKN Orlen, in eighth position. One reason for the rapid development of companies from CEE was the EU expansion. Last year was another favorable period for regional economies, with a 5.8% average rate of economic growth. Analysts estimate that economic growth in the countries of the region will stand at 6.6% this year. (Rzeczpospolita, pp.A1, B1) M.M.