By Mirza Duran Poland’s dominant gas firm and LNG importer PGNiG reported a 29 per cent lower net profit in the first quarter, hit by impairments.
Swinoujscie LNG terminal (Image: PGNiG)
Quarterly net profit stood at 779 million Zlotys ($196m) when compared to 1.1 billion Zlotys in the January-March period last year.
Revenue also declined 4 per cent year-on-year to 13.76 billion Zlotys.
The Polish company attributed the decrease to 758 million Zlotys impairment losses on non-current assets related to crude oil and natural gas production in Poland and abroad.
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