Locked content Esotiq & Henderson sales down 3% in August

Clothing and cosmetics retailer Esotiq & Henderson had PLN 13.5 million revenue from sales in August, a decrease of 3 percent y/y, according to preliminary data. In January-August sales amounted to PLN 100 million and were at the same level compared to a year ago. Revenue from e-commerce channel...

Locked content R22 plans to increase number of acquisitions

IT and telecom group R22 actively considers acquisitions and hopes to increase their number in 2018/19 compared to a year ago.  In the fiscal year 2017/18, R22 had four acquisitions on the hosting market. In the current year, it has finalized two (Romanian Gazduire and Appchance) and agreed on acqui...

Locked content PKN Orlen will decide on offshore project in 2019

Next year Poland’s largest oil refiner PKN Orlen will decide whether to enter the offshore wind farm project, executive director for energy projects Jarosław Dybowski said. In some weeks the company will select an advisor, he added. Dybowski also confirmed that PKN may invite a partner to this...

Locked content CBOS: Public mood without changes in September

About 48 percent of Poles believe that the country goes in the right direction, according to the latest survey by pollster CBOS. This is the same percentage as in August. As many as 36 percent of respondents think that Poland’s current direction is wrong. Every sixth respondent (16 percent) do...

Moody’s raises Poland’s GDP forecast for 2018-19

Moody’s credit rating agency upgraded 2018 GDP outlook for Poland to 5.0 percent from 4.3 percent expected earlier. For 2019 the agency raised GDP outlook to 4.2 percent from 4 percent. Moody’s estimated that in 2018 Polish economy would reach the peak of activity in the current cycle. In the ...

New investment advisory enters Polish market

Jason Sharman and Michał Grabara, until recently managing partner and head of investment at BSC Real Estate Advisors respectively, have announced the establishment of a new real estate advisory business. Burlington Real Estate is Poland’s first investment only advisory practice and covers all commer...

Locked content Industrial production grew in 28 industries in August

In August industrial production grew in 28 out of 34 industries, Polish Central Statistical Office (GUS) reported. Production rose, among others, for transport equipment (by 30.5 percent), machinery and equipment (by 17.7 percent), electrical equipment (by 16.6 percent), and metals (by 8.4 percent)....

Locked content Car registrations in Aug. up 64.3% – ACEA

The number of newly registered passenger cars in August amounted to 56,701. This is an increase of 64.3 percent y/y, European Automobile Manufacturers’ Association (ACEA) estimated. In January-August 376,031 cars were registered in Poland, a growth of 18.1 percent compared to the same period in 2017...

Locked content 4,234 people declared bankruptcy in Jan.-Aug.

In the first eight months of this year, 4,234 people declared bankruptcy, according to BIK and BIG InfoMonitor data. Their debts amounted to about PLN 490 million at the end of August. Those who declared bankruptcy in the period from 2015 to Aug. 2018 had more than PLN 2 billion debts in banks and s...

Locked content Banking sector 7-month net profit at PLN 9.12 bln

In January-July the banking sector recorded net profit of PLN 9.12 billion, the National Bank of Poland (NBP) reported. Net interest income in the same period amounted to PLN 26.27 billion. In July net profit stood at PLN 1.29 billion, showing a decline of 7.5 percent compared to June. Net interest ...