ZCh Police impairments stand at PLN 46.4 mln
23:55
ZCh Police (Grupa Azoty Zakłady Chemiczne), a unit of Azoty group, decided to write down €10.5 million (PLN 46.4 million), that is the full value of receivables from its African unit AFRIG, the company informed in a market filing.
The €10.5 million impairments will burden the standalone result of the firm in H1 2016, while AFRIG's impairments will burden group results, the company said.
AFRIG itself decided to book impairments of some PLN 24.4 million.
ZCh Police is one of the largest Polish employers in the West Pomeranian region. The company ranks second in the EU in terms of production of nitrogen and compound fertilizers.
