Locked content Benefit Systems unit buys Masovian Sports Center and NewCo3

Fit Invest, a subsidiary of employee benefits program operator Benefit Systems, acquired 100 percent stake in Masovian Sports Center and in NewCo3 from Glastonbury Ventures Limited (GVL), Benefit Systems said. The total purchase price is PLN 69 million. According to the sale agreement, in addition t...

Locked content Bytom October revenue up 7.3%

WSE-listed fashion retailer Bytom had PLN 16 million revenue in October, a 7.3 percent increase compared to a year ago, the company said. Retail sales grew by 7.4 percent y/y to PLN 15.8 million. Gross margin stood at 54.5 percent in October, flat versus a year ago. Wholesale revenue amounted to PLN...

Locked content Work Service sells 100% in German Exact Systems

Work Service signed an agreement to sell 100 percent stake in German Exact Systems to Remango Investments. The total consideration from the transaction will amount to PLN 155.3 million. The sale of Exact Systems results from Group’s Development and Restructuring Strategy for 2018-2020. Work Se...

Locked content Government plans increase in lowest pensions in 2019 – CIR

The government plans a one-off increase in the lowest pensions in 2019, Government Information Center (CIR) reported. “Despite the many changes made in recent years to improve the situation of people receiving the lowest pensions, the amount is still considered insufficient in comparison to th...

Locked content Gas export to Poland by Gazprom up 6.7% in Jan.-Oct.

In 10 months gas export to Poland by Gazprom increased by 6.7 percent y/y, Gazprom reported on Twitter. Gas export to Europe rose to 161.4 billion cubic meters from January to October, showing a 4.4 percent growth y/y. During the 10-month period, Russian gas giant produced 408.1 billion cubic meters...

Locked content Diesel price will go up, gasoline may decline – BM Reflex

The divergence between the price of diesel and 95 gasoline may increase this week, BM Reflex analysts estimated. At the end of October, the diesel price stood at PLN 5.27 per liter and was PLN 0.19 higher than the price for gasoline 95 (PLN 5.08 per liter). The analysts expect a further decline in g...

Locked content EBRD lifts Poland’s GDP growth forecast to 4.7% in 2018

The European Bank for Reconstruction and Development (EBRD) raised the GDP growth forecast for 2018 to 4.7 percent y/y, and for 2019 to 3.6 percent y/y, up by 0.7 and 0.3 percent respectively compared to forecasts from May – the bank reported. “GDP growth could have reached its peak in m...

Locked content Unemployment down at 3.4% in Sept – Eurostat

The seasonally adjusted unemployment rate in Poland was 3.4 percent in September compared to 3.5 percent in August, the EU statistical office Eurostat reported. The number of unemployed people decreased to 577,000 in September from 590,000 a month earlier. In the entire EU, unemployment stood at 6.7...

Locked content Grupa Azoty Q3 prelim. net loss at PLN 116.8 mln

In Q3 Grupa Azoty recorded preliminary net loss of PLN 116.8 million, EBITDA of PLN 44.1 million and revenue of PLN 2.32 billion, the company said in a statement. The results were affected by the increase in gas and fuel prices, CO2 emission allowances and lower sales volumes, the company said. Grup...

Locked content AmRest completes acquisition of Sushi Shop

AmRest has finalized the purchase of 100 percent stake in Sushi Shop Group, the company said. The purchase price was about €164 million. Earlier the company said that the price would amount to €240 million adjusted by the balance of cash and debt. In addition, up to €10 million (earn-out) will be pa...