Energomontaz-Poludnie: flats up for sale in May

2010-04-13

Energomontaz-Poludnie disclosed that because of delays in the execution of construction works on the residential project in Ligota estate in Katowice, due to bad weather, sales of dwellings in the estate would begin in May 2010, according to Parkiet.
Originally the firm had planned to begin selling the flats this month. Yet, Energomontaz’s management still hopes that it will find buyers for half of the offered 220 housing units. If these plans come to pass, its net profit in 2010 will increase by PLN 4m (€1m).
Currently, the company’s order portfolio is worth approx. PLN 500m (€129.2m), including contracts for PLN 300m (€77.5m) to be executed this year. The company’s management hopes to secure additional orders in the coming months, including a contract in Belchatow worth several hundred million zloty. At present, Energomontaz is conducting a financial due diligence at three potential targets, including a construction firm and a design and civil engineering enterprise.

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