Grupa Polska Stal: good figures in Q1-Q3

2009-11-17



Grupa Polska Stal (GPS) reported strong financial results in Q1-Q3 2009 despite the rather weakened state of the smelting branch, web service wnp.pl reported.
Between January and the end of September 2009 the company managed to find buyers for more than 180,000 tones of steel products, which earned it a profit topping PLN 600,000 (€146,341). During this period the company suffered a 20% drop in sales and an approx. 30% decline in revenues compared with 12 months' previously. Nevertheless, at the same time its profit soared by over 200%. GPS' senior management predict that in Q4, as is traditionally the case during this period, prices of smelting products will fall and, because of the economic crisis, companies operating in the sector will have to adjust their operations to market conditions accordingly. The company's authorities expect things to pick up in the smelting branch after the first quarter of 2010.

Find more news and analyses in internet service Construction Poland Online and pdf newsletter Polish Construction Review.