Polish Steel Mills records an unofficial net profit for June of zł. 3.5 million

From the unofficial June results for Polish Steel Mills (PHS), it transpires that the company made a net profit of zł. 3.5 million on record monthly revenues of zł. 660.6 million. This would mean that the firm has produced a profit for the second month in a row, after it earned zł. 12 million in net terms. "It all seems like the concern will close the year slightly in the black, or in the worst case, just below zero," said PHS' spokesman Andrzej Krzyształowski. The concern closed the first half of the year with losses of zł. 67 million. The improving results are due to the effects of the consolidation processes, the good situation in the steel market and the weakening of the złoty against the Euro. "Our sales for the whole year should exceed zł. 7 billion," added Krzyształowski. Moreover, the concern's exports are becoming more profitable and now represent 40% of total sales. (Parkiet, p. 7) M.M.