Locked content AmRest with 27.2% y/y revenue growth in Q2 – prelim. results

WSE-listed restaurant operator AmRest enjoyed a Q2, 27.2 percent y/y revenue increase to PLN 1.24 billion, the company said in a market filing of preliminary data. For the CEE region, sales were up by 15 percent y/y to PLN 617 million. Russian operations amounted to PLN 150 million revenue, up by 29...

Locked content The parliament against referendum on school reforms

The Polish parliament voted against holding a nation-wide referendum on the government’s school reform program with 236 MPs against, and 210 in favor of the bid. The referendum bid was organized by the teachers’ unions which gathered 910,000 signatures under the petition to hold the vote on th...

Locked content Tusk sends letter to Duda on the judiciary system overhaul

The European Council President and former PM Donald Tusk sent a letter to President Andrzej Duda, asking him “for an urgent meeting to discuss the dangerous consequences for Poland’s standing on the world stage.” The request for the meeting was denied by the president’s office saying that “the refor...

Locked content World Games open in Wrocław

The World Games sporting event has started in Wroclaw with the opening ceremony on Thursday. The games, dubbed by some as “the biggest sporting event you’ve never heard of,” are an international multi-sport event, meant for sports that are not contested in the Olympic Games, although are organized i...

Echo sells office scheme for €56 mln

WSE-listed real estate developer Echo Investment signed a preliminary deal to sell the Sagittarius Business House office scheme in Wrocław to a German fund W-HIH Immo Invest. The deal is worth €56 million, but could be increased to €63 million if at least 80 percent of space in the building will be ...

Tauron hit by PLN 500 mln lawsuit by wind farm firm

WSE-listed, state-owned utility Tauron has been sued by wind farm company Gorczyca Wind Invest for terminating a long-term contract for the deliveries of electricity and green certificates by Tauron subsidiary Polska Energia – Pierwsza Kompania Handlowa.

Poland revamps its de minimis guarantee system

The Polish government will replace the de minimis guarantee system with the new National Guarantee Fund and expects it to grant PLN 9 billion in guarantees per annum, which would translate into PLN 16 billion loans from the lenders.

Locked content ZUE signs PLN 457 mln deal with PKP PLK

WSE-listed railway infrastructure builder ZUE signed a gross PLN 457 million (net PLN 371.6 million) deal for works on the 1 railway line with railway infrastructure firm PKP PLK. The deal concerns the part of the line linking Częstochowa with Zawiercie. After the works are completed, passenger trai...

Eurostat: Q1 general government debt inches down

The general government debt of Poland dropped to 54 percent of GDP in Q1, down 0.4 percent q/q, and up by 2.2 percent y/y. It stood at PLN 1,013 billion, Eurostat reported. According to Poland’s Central Statistics Office (GUS) in Q1, the general government had a PLN 7.76 billion surplus.

Sejm approves budgetary spending for 2016

Polish Sejm approved the report on the implementation of the 2016 budget with 236 votes for and 204 against. According to the government’s report, last year’s GDP growth stood at 2.7 percent, while public finance sector deficit amounted to 2.4 percent of the GDP. The investments contracted by 7.9 pe...