UPDATE 1-Unipetrol H1 net rises 45 pct,in line with f'cast

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Czech oil group Unipetrol posted a 45 percent increase in first-half net profit, fuelled by favourable conditions in both the petrochemical and refining markets.

The Czech unit of Polish refiner PKN Orlen said net profit before minorities rose to 3.07 billion crowns ($149.6 million) in January-June from 2.11 billion crowns in the same period a year ago.

This puts the second-quarter earnings at 1.51 billion crowns, according to Reuters calculations, up from 1.26 billion in the second quarter last year.

Six analysts in a Reuters poll gave an average estimate for second-quarter net profit of 1.5 billion crowns. In the first quarter of this year, the company made a record net profit of 1.56 billion crowns.

Revenue grew 1 percent year-on-year to 45.47 billion crowns.

"(Results) are in line with the revised consensus and somewhat better that I was expecting," said Bram Buring, analyst at Wood & Company.

"I would consider these to be a very nice set of results, driven primarily by the petrochemical business," he added.

The company will detail the results at a news conference at 0800 GMT.

Shares in Unipetrol closed at 277 crowns on Friday. Trading is due to open at 0730 GMT.

Late last week, the stock traded at more than 11 times this year's projected earnings, around one percentage point below Hungarian peer MOL and at similar level as parent PKN.

For story on PKN Orlen's results, click on [ID:nL12462052]

[PRAGUE/Reuters/Finance.cz]