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Name | Symbol | Market | Type |
---|---|---|---|
Mol Magyar Olay Es Gazipari Rt (PK) | USOTC:MGYOY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.0115 | 0.30% | 3.87 | 3.79 | 3.87 | 3.89 | 3.78 | 3.845 | 41,193 | 20:59:32 |
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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