Polish firms see profits jump by zł.4 billion
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2010-05-19 00:00:00
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Q1 results suggest a recovery is in full swing, say analysts
The largest firms on the Warsaw Stock Exchange have again posted very encouraging quarterly results, reports Parkiet. The firms making up the WIG20, an index of the WSE's largest companies, have improved their numbers across the board last quarter. Their combined revenues are up 9.4 percent year-on-year, their operational profits are up nearly 33 percent and their net profits are up a massive 145.4 percent. Analysts are excited to see the trend of higher profits continue. It first emerged at the end of 2009 after a long slump and now analysts feel another solid quarter means the recovery is finally taking root. Leading the pack were large oil concerns and companies dealing in commodities and raw materials. Last quarter was also kind to banks. Among the leaders: oil refiner PKN Orlen saw its profits jump nearly zł.1.7 billion, oil and gas company PGNiG registered a net profit increase of nearly zł.1.4 billion and oil firm Lotos earned an extra zł.676 million. Economists wonder, however, if the firms will be able to maintain such growth in quarters to come. They say investors have already reacted to the good news by buying a number of shares at high volumes, but they're now sitting back and waiting to see how much the firms in their portfolios can earn in coming months. Source: Parkiet |
