Orbis profits on the rise

WSE-listed hotel operator Orbis had PLN 207.13 million consolidated net profit in 2016, compared to PLN 181.55 million in 2015, company said in a market filing. Consolidated sales revenue stood at PLN 1.38 billion vs. PLN 1.26 billion the year before. The company plans PLN 15-170 million CAPEX for this year, plus additional acquisitions are in the plans as well. “We are very positive about 2017 prospects,” Orbis CEO Gilles Clavie said. "The market growth rates remain robust, macro trends on all markets are good."