Rafako profit down

WSE-listed heavy machinery producer Rafako had PLN 10.51 million consolidated net profit in 2016, down from PLN 34.07 million in 2015. EBIT was at PLN 24.7 million (down from PLN 40.72 million), while revenue from sales amounted to PLN 1.87 billion, up from PLN 1.55 billion in 2015. Rafako will “work intensely” on increasing its order portfolio in 2017, CEO Agnieszka Wasilewska-Semail said in the report. Rafako hopes to be “a significant beneficiary” of the expected acceleration in power investments in the coming years, the CEO also said.