Locked content AmRest Q2 profit below expectations

WSE-listed restaurant operator AmRest posted a PLN 33.1 million attributable net profit in Q2, below consensus expectations for PLN 37.5 million, mostly due to increased costs. Revenues amounted to PLN 1.24 billion, in line with expectations and 27.2 percent y/y increase, in line with preliminary fi...

Locked content BZ WBK in the lead for Deutsche Bank Poland

BZ WBK is getting closer to buying Deutsche Bank’s Polish assets, according to Reuters. “Offers were submitted by BZ WBK and Millennium. But Millennium’s offer is too low. In these circumstances only BZ WBK’s offer is taken into consideration,” Reuters said, quoting a person familiar with the negoti...

Locked content Poland to favor investments over dividends in state-owned companies

Cabinet minister Henryk Kowalczyk told the Polish Press Agency (PAP) that the tReasury will stick to its policy of favoring investments over dividends from state-controlled companies. “The general policy is that we don’t drain the companies. We encourage investments, we want to enable investme...

Locked content Pekao with KNF approval for Pioneer Pekao PTE takeover

WSE-listed lender Pekao secured Financial Supervision Authority (KNF) approval to take over 7,266 shares in Pioneer Pekao PTE pension fund from Pioneer Global Asset Management, KNF said in a market filing. This is the first hurdle to clear a bigger, €140 million deal for Pekao to purchase 51 percent...

Locked content EBRD to Poland – more privatization

The European Bank for Reconstruction and Development’s President Suma Chakrabarti said that Poland should speed up privatization, particularly in the banking and energy sectors. “It’s quite surprising, given Poland’s leadership in the whole transition race, that so much of the economy is still in st...

Locked content Juncker wants the whole EU to be in the euro zone

European Commission President Jean-Claude Juncker urged member states to join the euro zone in his annual State of the European Union speech in which he outlined his vision for the post-Brexit EU. “If we want the euro to unite rather than divide our continent, then it should be more than the currenc...

Locked content R22 files IPO prospectus

Software group R22 has filed an IPO prospectus to the Financial Supervision Authority (KNF) and hopes to debut on the Warsaw Stock Exchange by the end of this year. “The last few years have been very good for R22, both in terms of expansion through acquisitions and earnings growth. We will continue ...

Locked content Poland to introduce fees on plastic bags

The ministry of environment plans to introduce a PLN 0.2 fee for plastic bags in order to curb their use. According to the draft bill, the price of a plastic shopping bag will not exceed PLN 1. The fee would be applicable to bags of up to 50 microns, which are widely used for grocery…

Locked content Comarch with cheapest offer in tender for ZUS IT systems

Software company Comarch has made the cheapest offer in the tender for the maintenance of ZUS IT systems with a bid of PLN 242 million. There were two other bids – one from Asseco at PLN 374 million and finally Atos at PLN 431 million. The budget for the work is PLN 374 million. ZUS’s…