News Parkiet

Insurance

PZU raises earnings estimate

Poland's no. 1 insurance group Powszechny Zakład Ubezpieczeniowy expects earnings of at least 2.82 billion zloty ($870 million), some 28 percent more than last year and 11.7 percent higher than PZU's original forecast, the company said in an internal memo. Actual profits may be even higher if the stock market rally on the WSE continues, boosting PZU's returns on its massive equity portfolio.

Power industry

CEZ may seek dual listing on a foreign exchange

Czech power group CEZ may list its shares on another stock market in a country where the company buys major energy-related assets, chief executive Martin Roman said in a BBC interview yesterday. CEZ is bidding for Polish power plant Elektrownia Kozienice and is looking at other local power producers and electricity distributors.

Equity markets

Stockbrokers report 1H earnings

Aggregate earnings before taxes of Poland's 42 registered stockbrokers totaled 332.9 million zloty in the first six months of this year, the country's Central Statistical Office said. That's 48 percent more than last year.

Pulp & paper

Pfleiderer Grajewo posts record sales

High-density board manufacturer Pfleiderer Grajewo reported 174.6 million zloty in sales in the third quarter of this year, the most in a three-month period since the company went public in late 1990's. Group sales that include revenues of Grajewo subsidiary Prospan totaled 269 million zloty ($83 million).