Locked content Trigon TFI cuts stake in Polwax to below 5%

Trigon TFI reduced its involvement in Polwax below the 5 percent threshold. Currently, Trigon TFI has 4.18 percent votes on the General Meeting of the company, constituting 4.90 percent of share capital – Polwax said in a statement. Prior to the change in the stake, investment funds managed by...

Unibep to build Karuzela mall in Biała Podlaska

Developer Karuzela Holding will soon launch construction work on its planned Karuzela shopping center project in Biała Podlaska in eastern Poland. The company has appointed Warsaw Stock Exchange-listed builder Unibep as the general contractor of the scheme. The Karuzela development, which is set to ...

Locked content Mostostal Warszawa gets contract worth PLN 53.16 mln net

Warsaw Stock Exchange-listed builder Mostostal Warszawa has signed a contract with Autoliv Poland for the extension of the existing Autoliv plant in Jelcz-Laskowice, the company said in a statement on Thursday. The contract is worth PLN 53.16 million net. The contractor has 60 weeks to commence work...

Locked content 100 people protest in Szczecin port “in defense of jobs”

On Thursday about 100 people protested in Szczecin port “in defense of jobs”. Representatives of trade unions are concerned that reduction of port areas managed by Bulk Cargo will result in layoffs. They approached port management with a petition demanding to withdraw from April’s ...

Locked content GetBack proposes to pay bondholders 31%

Troubled debt collector GetBack updated arrangement proposal with bondholders and offered to pay 31 percent instead of earlier planned 27 percent. The adjusted proposal is based on an assessment of the company’s current financial condition and takes into account a lack of investor, ongoing neg...

Locked content Tesco will close 13 stores in Poland

British supermarket chain Tesco confirmed on Thursday that it plans to close 13 loss-making stores in Poland and liquidate up to 2,200 workplaces. The company has informed employees, trade unions, and relevant labor offices about the plan, Tesco press-service said. Tesco also said that it plans to s...

Locked content PDM raises Ultimate Games target price to PLN 15.5

Polski Dom Maklerski (PDM) rose target price for Ultimate Games to PLN 15.5 from PLN 12.9 and reiterated “buy” rating. The upgrade followed the establishment of UF Games jointly with Forever Entertainment and a significant number of new publishing contracts. The brokerage also upgraded 2...

Locked content SferaNET sees 2018 EBITDA at PLN 1.1 mln

NewConnect-listed SferaNET targets 2018 EBITDA of PLN 1.1 million, while the revenue is expected at PLN 5.4 million, the company said in a statement. In H1 SferaNET reported revenue of PLN 2.5 million, EBITDA of PLN 0.6 million. In 2017 revenue amounted to PLN 4.2 million, EBITDA was PLN 1.1 million...

Locked content Cyfrowy Polsat Q2 net profit down at PLN 235.8 mln

In Q2 Cyfrowy Polsat reported PLN 235.8 million consolidated net profit versus PLN 291.2 million a year ago. Operating profit fell to PLN 475.6 million compared to PLN 517 million in Q2 2017. Revenue rose to PLN 2.6 billion from PLN 2.47 billion y/y. In H1 the company had PLN 536.6 million of net pr...

Locked content Public debt in 2019 will decrease by 1.7 p.p – Czerwińska

Government debt will be reduced by 1.7 percentage points in 2019, Minister of Finance Teresa Czerwińska said. She added that Poland has very low debt for EU standards. On Tuesday the Council of Ministers adopted a preliminary budget for 2019. It assumes 3.8 percent GDP growth, 2.3 percent inflation,...