Poland's PGNiG Q3 net profit seen 25pc up y/y

WARSAW: Poland's gas company PGNiG is forecast to report a 25-percent growth in its third-quarter net profit on the back of rising oil prices, a Reuters survey showed on Monday.

A poll of eight banks and brokerages showed that the state-run PGNiG will post a net profit of 446 million zlotys ($121.93 million), which would peg the result for the first nine months of the year at 2.54 billion zlotys.

Analysts forecasts of PGNiG' net profit in the third quarter varied between 308 million zlotys and 800 million zlotys due to their different assumptions about the price of gas that PGNiG pays its biggest supplier Gazprom.

Last month, PGNiG said its gas sales rose by 8 percent in the third quarter.