RG notes bumper profit due to good margins

Rafineria Gdańska's (RG) net profit for the first four months of 2003 stood at zł. 91 million, almost as much as the refiner's total net profit in 2002. "RG's good results come from our high production and sales margins. Apart from that, we are the only company that has increased its domestic sales," said RG spokesman Marcin Zachowicz. Yesterday, the refiner's annual shareholders meeting approved RG's annual report and decided that 15% [around zł. 15.3 million] of its 2002 profit would be paid out in the form of dividend. The shareholders also gave their consent to split, from the refinery, two separate entities, Lotos Service and Lotos Lab, which together will hire 410 of RG's employees. As of June 2, the refiner's name will change to Grupa Lotos (Parkiet, p. 5) J.K.