The Polish oil giant Lotos failed to expand its revenues in the fourth quarter of 2012. The company brought in a total of PLN 8.32bn over the last three months of the year, a 0.5-percent decrease compared with the same period in 2011. However, net profits for the company grew in the Q4 2012 to PLN 24.18m, up from PLN 74m posted in the same period in 2011.
Market watchers had predicted tghe company’s earnings would reach PLN 125m in Q4 2012, thanks to a write-off on its Yme oil fields in Norway. Sales fell in the fourth quarter of 2012 by 5.5 percent, coming in at PLN 131.6m
