Energomontaz-Poludnie preparing to sell flats

2010-03-10

The company Energomontaz-Poludnie will begin putting up for sale flats in Ligota estate in Katowice next month. This year the company would like to find buyers for at least 110 of the 220 units in the project, Parkiet reported.
If the company meets its targets then its consolidated net profit in 2010 may increase by approximately PLN 4m (€1m). As well as selling flats the company also wants to begin building retail-commercial space in the Katowice complex. This part of the investment is slated for completion in the final quarter of 2010 and its value is estimated at around PLN 10m (€2.6m).
In February this year Energomontaz had contracts in hand worth in total PLN 382.5m (€98.1m), and it expects to sign further contracts in the near future. The company's senior management has not disclosed the value of these orders, but in the next few weeks, according to the board, its order book may increase in value terms by around PLN 500m (€128.2m). This year Energomontaz intends to submit bids equal in value to at least PLN 1bn (€256.4m) and this figure may be even higher if the PBG group (possessing more than 25% of Energomontaz's shares) wins a major order in the power engineering sector.

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