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TVK losses narrow in Q4

Petrochemicals company TVK, a unit of Hungarian oil and gas company MOL, on Tuesday reported a fourth-quarter net loss of HUF 581 million, well under the HUF 8.4 billion loss in the base period. Net sales revenue rose 3.4% to HUF 100.3 billion. TVK's operating profit was a slight HUF 344 million, compared to a HUF 6.6 billion loss in the base period. The company attributed the improvement to higher production and sales volume as well as favourable exchange rate changes.