WSE companies post high Q1 revenues, low profits

The combined revenues of all 218 companies increased by 31% in Q1 2006, mainly due to the results of PKN Orlen and KGHM. However, the impressive increase of revenues was not matched by increasing profits. The total operating profit of all companies decreased by 9.5% while net profit grew by 5.9%. The operating profit of 88 companies was worse than a year ago while 85 companies had a lower net profit than a year ago. Most analysts estimate that in the next quarter the best results may be expected from construction companies, banks and companies from the metal industry. (Puls Biznesu, pp. 1, 16-17) E.B