PBG maintains guidance for 2010

2010-08-30

PBG posted net profit of PLN 72m (€18m) for H1 2010, up by around PLN 1.8m (€0.5m) compared to the corresponding period of 2009. Representatives of the company's management board also maintain revenue and net profit guidance for 2010 of PLN 3bn (€753.8m) and around PLN 220m (€55.3m), respectively, as reported by Parkiet.
As at the end of July 2010, the company had order book with the total value of PLN 6.1bn (€1.5bn), with contracts worth PLN 1.7bn (€427.1m) to be completed by the end of 2010. Contracts with the value of PLN 3bn (€753.8m) will be executed in 2011, while the subsequent years will see orders worth PLN 1.4bn (€351.8m) being delivered. The company is seeking to secure new orders, having submitted tender bids worth around PLN 1bn (€251.3m). PBG is also participating in prequalifications for tenders with the total value of PLN 18bn (€4.5bn).
The company's senior management has recently announced the plans of concluding a teaming agreement with an international construction company. This company's business also includes the function of the operator (e.g. management and maintenance of tunnels and roads). PBG's management has also announced that the company will issue bonds this autumn. Proceeds from the issue are to be used to redeem debt securities which PBG issued at the end of 2007.

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