Erbud with PLN 788 mln revenue in H1

Polish construction group Erbud has recorded revenues of over PLN 788 million in H1 2016 (in comparison with PLN 806 million in the corresponding period last year) and a net loss of PLN 8.2 million over the financial year. Erbud's operating profit grew by 108.8 percent on an annual basis up to PLN 35.5 million in H1. However, the company has stated that the finalisation of the transaction will generate an income of approximately PLN 47.5 million in subsequent quarters. "We closed H1 with solid results. Our revenue and margins as well as our operating profit are satisfactory. This is mostly a result of the efficiency of our activities in Western Europe. H1 2016 brought about a record result in terms of our operations abroad," commented Dariusz Grzeszczak, president of Erbud. Erbud is one of the top five building groups on the Polish market. It has been listed on the WSE since 2007.