Ursus with preliminary PLN 4 mln net loss in 2017

Polish agricultural machinery manufacturer Ursus recorded a PLN 4 million loss on revenue of PLN 259 million in 2017, the company has announced presenting its preliminary data. "Net loss in 2017 amounted to PLN 4 million compared to a net profit of PLN 5 million in the same period of the previous year, which was the result of a decrease in revenues from domestic sales and from foreign sales under export contracts and from lower profitability achieved on sales due to the implementation of foreign contracts," the company informed. The company's sales revenues in 2017 fell by 6 percent y/y, ie by PLN 15 million, and amounted to PLN 259 million. Ursus specializes in the production and sale of machinery and equipment for agriculture. In 2011, Ursus joined forces with another Polish producer of agricultural machinery - Pol-Mot Warfama. The company's management decided to transfer the production of tractors to Lublin and expand the range of manufactured products.