January 25, 2018 / 6:19 AM / 4 months ago

Poland's PKN Q4 net profit falls 11 pct, misses forecast

WARSAW, Jan 25 (Reuters) - PKN Orlen, Poland’s top oil refiner, said on Thursday fourth-quarter net profit fell by 11 percent year-on-year to 1.59 billion zlotys ($477.42 million) as higher oil prices hit its refining margins.

Analysts had expected the state-run PKN Orlen to report a net profit of 1.72 billion zlotys in the fourth quarter compared with 1.79 billion zlotys a year ago, when refinery shutdowns weighed on the results.

$1 = 3.3304 zlotys Reporting by Anna Koper; Writing by Marcin Goclowski and Agnieszka Barteczko, Editing by Sherry Jacob-Phillips

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