Rafako profits plummet

WSE-listed industrial machinery producer Rafako profits for 2016 took a huge dive. It stood at PLN 11.3 million, down by 67 percent year-on-year, while revenues went up by 20 percent to PLN 1.86 billion, the company said in a preliminary financial report. The drop results from corrections in the valuations of long-term contracts at the end of 2016 as well as the completion of the voluntary leaves program, the report explained.