Poland: Lotos Points to Stable Share Value
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Monday, 21 July 2008 |
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Grupa Lotos, expects the value of its shares to stabilize at the end
of third and in fourth quarter of the year, Lotos' CEO Pawel
Olechnowicz according to Interfax Poland.
"We have to take into consideration the fact that
we are dealing with weak sentiment for investments in the
[fuel] sector and with the tough moment from the season of
the year's point of view," Olechnowicz said.
"So probably at the end of the third quarter and in the
fourth quarter we will be more at ease about the value of
the company's shares on the bourse."
Olechnowicz said that Lotos' shares value
decrease that followed the announcement of the
company's strategy in June was mainly a result of movements within
investment funds.
"With the implementation of such a big program, with financing
organized and with long-term strategy assuming
investment in [oil] extraction, someone that invests in
short-term may have a different view and see a risk here,"
Olechnowicz said. "This is certainly what the
long-tern investors don't see."
It
has also been reported that Lotos will not be developing its Lotos
service station network brand outside of Poland. In June
Lotos announced a strategy, which assumes PLN 5 bln
investment by 2012.
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