(54 PLN, 1,32%) reported higher-than-expected net income results this morning. IFRS consolidated net income came in at PLN 1,110.0m for 2Q07, up 26.0% y/y, and much above the previous quarter result of PLN 49.2m. The figure beat the consensus forecast of PLN 960.0m by 15.6% (estimates ranged between PLN 821m and PLN 1,064m according to Reuters) and was also above (18.3%) our own estimate of PLN 938.2m. (54 EUR, 0,24%) EBIT came just slightly below the consensus of PLN 1.321m (estimates ranged between PLN 1,251m and PLN 1,417m according to Reuters ) delivering PLN 1,291m (+7.6% y/y, +244.7% q/q). Since the bottom line was higher-than-expected we expect to see a positive market reaction to the results.