Budimex's nine month profit recused thanks to the sale of its main office

After three quarters of 2003, construction company Budimex had consolidated sales of zł. 1.65 billion, which was zł. 83.3 million less than a year ago. The company managed to increase its gross margin on sales from 7.5% in 2002 to 8.5% by the end of the third quarter, while its net profit amounted to zł. 57.6 million. However this figure was inflated thanks to the sale of its headquarters, on which it made a profit of zł. 88.3 million. Company president Marek Michałowski told journalists that the company is not losing its market share, which is estimated at about 4%. According to the management, full year sales should be no less than in 2002, and come in at about zł. 2.31 billion. Budimex also announced that it will become more involved with developer activities, apply for a license to construct and man age highways, as well as look to increase foreign sales. (Rzeczpospolita, p. B4) M.M.