PBG with H1 loss

WSE-listed construction firm PBG recorded a PLN 3.83 million consolidated net loss in H1, down from a PLN 828.7 million profit last year. EBIT amounted to PLN 20.9 million, compared with PLN 828.7 million in the corresponding period last year. According to PBG’s financial report, this year’s results were affected by the costs of insolvent bankruptcy, due to which, the company recorded a PLN 9.7 million loss as a result of the revaluation of discount on arrangement liabilities and zero coupon bonds issued to repay part of the arrangement liabilities. Revenues were up to PLN914 million against PLN 788.66 million a year earlier.