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Poland - Factors to Watch May 14
May 14, 2015 / 6:02 AM / 2 years ago

Poland - Factors to Watch May 14

Following are news stories, press reports and events to watch that may affect Poland’s financial markets on Thursday. ALL TIMES GMT (Poland: GMT + 2 hours):

DATA

Poland’s statistics office will publish April inflation data, while the central bank is to announce last-month’s reading of M3 money supply. Both are scheduled for 1200 GMT.

TAURON

Tauron, Poland’s second largest utility, surprised with a 27-percent rise in its first-quarter net profit thanks to a one-off tax return and savings.

The state-controlled company earned 502 million zlotys ($139.4 million), while analysts polled by Reuters expected a 10-percent drop in net profit, to 356 million.

CYFROWY POLSAT

Poland’s largest media group, Cyfrowy Polsat, booked a larger-than-expected 74-percent rise in its first-quarter net.

The group showed a bottom line of 171 million zlotys ($47.5 million) on sales more than tripling to 2.33 billion zlotys. Analysts expected revenue to stand at 2.37 billion.

ASSECO POLAND

Eastern Europe’s No.1 software maker, Asseco Poland, booked a 20-percent net profit drop.

The group showed a bottom line of 78 million zlotys ($22 million), beating analysts expectations of a 38-percent decline to 60 million.

KOFOLA

Warsaw-listed Czech soft drinks maker Kofola is considering moving its headquarters to the Czech Republic and listing its shares at the Prague bourse as well, the company said on Wednesday.

Kofola added it may consider a secondary public offering consisting of new and existing shares, in the Czech Republic as well as in Poland and/or Slovakia.

PHN

The state-controlled real-estate group recommended a dividend payout of nearly 61 million zlotys ($17 million) from last year profits, or 1.30 zlotys per share, the company said on Wednesday.

PGNIG

Poland’s largest gas distributor PGNiG said on Wednesday it had filed for arbitration with the Stockholm Arbitration Tribunal in a dispute with its biggest gas supplier Gazprom , looking to change the pricing of their long-term contract.

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