Lotos sees gearing rising to 70 pct on investments
August 13th, 2008 | by admin |WARSAW, Aug 30 (Reuters) - Poland’s No.2 refiner LotosLTOS.WA expects its gearing to rise to as much as 70 percentas it revs up its investment programme to modernise and boostproduction, the chief financial officer said.
“At the peak of the investment activities at end-2009 andthe beginning of 2010, gearing will reach 70 percent,” MariuszMachajewski said during conference call with analysts.
Earlier on Wednesday, its larger Polish rival PKN PKNA.WAsaid it will seek to keep gearing, or the ratio of net debt tocapital, below 40 percent. (Reporting by Chris Borowski)
