Budimex 2017 profit up

WSE-listed builder Budimex posted PLN 127.4 million attributable net profit in Q4, down by 19.8 percent year-on-year, the company said in a market filing with preliminary results. The revenue amounted to PLN 1.8 billion, up by 25 percent y/y. Operating profit was down by 17.4 percent at PLN 162 million. For the whole 2017, Budimex profit grew to PLN 464.4 million from PLN 409.8 million the year earlier, with revenues at PLN 6.36 billion compared with PLN 5.57 billion in 2016. Operating grew to PLN 588.3 million. At end-2017, the company sported PLN 2.2 billion in cash and cash equivalents, while its backlog amounted to PLN 10.3 billion.