Cyprus-based Levos buys 5.05% in Czech petrochemical giant Unipetrol.

By bne IntelliNews September 9, 2010
Cyprus-based company Levos Limited bought 5.05% in Czech largest petrochemical group Unipetrol, 63% controlled by Polish petrochemical concern PKN Orlen, on Sep 7. Unipetrol reported a net profit of CZK 829mn (EUR 32.2mn) in H1, as compared to a CZK 544mn loss a year ago, as a result of the introduction of a number of cost-saving and optimising measures. The improved macroeconomic environment and the higher demand for the company's petrochemical and refinery products (mainly abroad, as domestic demand stagnated) also supported the improved financials. Unipetrol sales surged by 36.9% y/y to CZK 41.4bn in H1.

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