ABM Solid: orders in hand worth PLN 330m

2010-02-22

The ABM Solid group currently possesses orders worth in total roughly PLN 330m (€82.5m) and the next few weeks will bring in more contracts equal in value to around PLN 70m (€17.5m), according to the company's senior management and quoted by Parkiet.
The company is hoping to improve its financial results this year and anticipates double-digit growth. In 2010 the company will earn income from both construction projects and the sale of flats on Warsaw's Modlinska Street. It has already found buyers for almost 50 flats out of the more than 130 units planned in the project representing total floor space of 10,500 m². Proceeds from these transactions will be recorded in the company's next financial reports, and revenues from developer projects should be especially clear in H2 2010. During this period it will also launch further residential projects in the Polish capital – the company wants to build an estate in Wawer district, with a floor area of roughly 8,500 m².
Another beneficial factor that will drive up results this year will be the financial health of Resbud, in which ABM Solid has a 52.5% stake. Restructuring of the company is drawing to a close and the group's senior management expect it to finish this year in the black.

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