BUDAPEST--Hungarian energy group MOL Nyrt.'s (MOL.BU, MGYOY)
third-quarter profit jumped from a year earlier on improving
product margins, higher sales volume and inventory gains in the
downstream segment, MOL's earnings report published Wednesday
showed.
MAIN FACTS:
-MOL registered net profit of 67.5 billion forints ($301.4
million) in the third quarter of 2012, an 86% rise from the
corresponding period of last year.
-MOL's operating profit jumped to HUF103 billion, nearly
doubling, up 96%.
-MOL's net-debt position decreased further to HUF716 billion,
resulting in a five-year low gearing ratio of 24.4%.
-MOL Chief Executive Zsolt Hernadi said the results showed the
company's downstream strategy is on the right track, and it needs
to continue its refinery-overhaul program to ensure high
profitability in an unfavorable external environment.
-Mr. Hernadi said a recently launched management-restructuring
effort is expected to contribute to the company's effective
operation in the future.
-MOL closed trading up 0.4% or HUF65 at HUF18,735.
Write to Veronika Gulyas at veronika.gulyas@dowjones.com
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