Unipetrol - Ceska Rafinerska lost CZK 1bn due to appreciation of the crown

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Investiční bankovnictví KB

      Ceska Rafinerska, 51% owned by Unipetrol, said that crown’s strengthening cost it more than CZK 1bn in profits. However, the company managed to increase its market share from 43% to more than 50%.

       We expect that 2003 will be again difficult for Ceska Rafinerska. Oil price increased further due to Iraq situation and the dollar also weakened. If the situation is solved quickly, oil price should correct and the dollar should gain ground.

      

      Tyto zprávy pro vás vytváří Investiční bankovnictví KB.