Stelmet profits take a hit in 2015/2016

  Garden furniture producer Stelmet recorded PLN 68.2 million in consolidated net profits attributable to shareholders of the parent company in the financial year 2015/2016 (October 1, 2015 - September 30, 2016) against PLN 80.84 million profit a year earlier, the company said in a report. "Last year, we continued activities related to building competitive advantage and strong position of Stelmet on the European and Polish market. As a result, we have developed revenues of over PLN 567 million. Adjusted EBITDA amounted to nearly PLN 90 million, while net profit for the year 2015/16 was PLN 67.5 million,” wrote the president Stanisław Bieńkowski in a letter to shareholders. Stelmet is engaged in the production and distribution of wooden garden furniture. The company debuted on the Warsaw Stock Exchange in October 2016.