PBG: PLN 4.5bn order book

2010-02-07

The construction group PBG currently has orders in hand worth in total roughly PLN 4.5bn (€1.1bn). Moreover, for the first time since it entered the stock market in 2004 the company is considering paying out a dividend, Parkiet reported.
PBG's senior management wants to set aside 10% of last year's net profit as a dividend but a final decision on this matter will only be made after an in-depth examination of the company's financial condition and after consultations with the enterprise's financial investors. The firm will need considerable financial outlays for a series of upcoming tenders, although if necessary it will resort to bank loans and has no plans for a share issue.
PBG is confident that it managed to surpass its financial targets for 2009, and its forecasts for this year will published in its financial report for 2009. The company's senior management hope that in 2010 the group will manage to maintain its profitability at a level similar to what it achieved in 2009 – it predicted a net margin of 6.79%.
Recently PBG withdrew from a developer project estimated to be worth approx. PLN 600m (€146m). The company was to have had a 70% share in the project while the remaining 30% was to have been allotted to a major player on the developer market. However, the firms failed to reach an agreement on the investment and PBG now intends to focus on smaller developer investments throughout the country.

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