Drozapol and Centrostal steel wares vendors report losses

APA - Austria Presse Agentur
opublikowano: 14-02-2006, 17:22

Warsaw (Puls Biznesu) – Stock of Drozapol and Centrostal shed yesterday due to disappointing reports.

Warsaw (Puls Biznesu) – Stock of Drozapol and Centrostal shed yesterday due to disappointing reports.

Poor market, short period of economic growth, increasing competition and unstable euro exchange rate are the reasons for poor financial results for the year 2005, according to managements of Centrostal and Drozapol, two listed companies trading with steel products.

Drozapol was shedding even 3.5 percent yesterday to PLN 2.5 (EUR 0.6). In 2005, it had PLN 82.24m of sales, or 15 percent less than in 2004. Lower margins caused that it had a net loss of PLN 580,000. Centrostal’s stock was falling even 7 percent to PLN 3.33. In 2005, its sales fell to PLN 118.14m from PLN 128.34m in 2004. The company had PLN 880,000 of net loss, down from PLN 730,000 of net income a year earlier.

(PLN 1 = EUR 0.263)

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Podpis: APA - Austria Presse Agentur

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