Locked content Bankruptcies on the rise in January

In January, 69 Polish companies were declared bankrupt, which is a 44 percent rise year-on-year, according to a report issued by Euler Hermes. The highest number of bankruptcies was recorded in the manufacturing sector – 18, up from eight last year. According to Euler Hermes this was caused by lack ...

Locked content Kruk to continue with M&As, sees 10-20% growth in 2017 – CEO

WSE-listed debt collector Kruk is mulling further takeovers both on domestic and foreign market, company’s CEO Piotr Krupa told the Polish Press Agency. “We are looking at next acquisitions on the German, Spanish, Italian as well as the Polish market.” Krupa also expects this year’s net ...

Locked content Orange with PLN 1.9 bln net loss in Q4

WSE-listed telecom Orange Polska posted a PLN 1.9 billion net loss in Q4, due to a PLN 1.79 billion impairment. Adjusted EBITDA for the quarter, was at PLN 640 million and PLN 3.16 billion for the whole year (10.1 percent drop). Revenue for 2016 fell to PLN 11.53 billion (2.6 percent drop). For this...
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Locked content Lotos looking for long-term oil supply deal with Iran

State-controlled oil refiner Lotos is interested in securing a long-term supply deal with Iran once it expands its Gdańsk refinery next year, its chief executive said. Lotos signed an agreement in 2016 with National Iranian Oil Company for the delivery of 2 million barrels of oil and is in talks to ...

Locked content LPP profit down

WSE-listed fashion retailer LPP, which owns brands like Reserved, Cropp, Mohito, had a PLN 158 million in profits in Q4, down 8.7 percent year-on-year, the company’s preliminary results showed. For the whole 2016, the company had PLN 176 million in profit (down from PLN 351 million in 2016) an...

Locked content Polish PM slightly injured in car accident

Polish Prime Minister Beata Szydło was slightly injured in a car accident late on Friday. As of press time she was still in the hospital receiving treatment. However her injuries were minor. “Nothing serious happened to the prime minister,” said government’s spokesman. TVP Info, said she suffe...

Locked content Poland and Norway MFAs discuss Baltic Pipe project

A proposed gas link to supply Poland from the North Sea was a major talking point during the meeting of Polish and Norwegian ministers of foreign affairs on Friday. Polish side is pushing for the project to be greenlit and hopes to have it built within the next five-six years, Polish minister Witold...

Locked content Pharmena revenue drops

Listed on the alternative, small-cap market, pharmaceutical, Pharmena, had PLN 1.74 million net profit in 2016, a drop from PLN 2.7 million in 2015. Revenue from sales amounted to PLN 17 million (PLN 18.4 million in 2015), the company said in its financial report. “The decrease stems, from low...
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