The meat sector, the biggest food and agricultural sector in Poland, is the least profitable one. High meat prices and strengthening zloty stopped exports. Imported meat floods the market. In result, many Polish meat companies are having difficulties. PKN Duda has recently had weaker results but it wants to acquire firms in troubles. The GSM of the company has just decided to issue 9.6m shares of H series for financial investors and shareholders with at least 100,000 shares. At today’s rate, the issue would be worth PLN 50m (EUR 14.6m).
“Many attractive companies have financial difficulties. We have regular visits from companies which want to join PKM Duda. Although the situation is reflected in our results, it also offers big opportunities to buy companies with big potential at a low price. We are analyzing the market thoroughly in order to choose the pearls”, Maciej Duda, the company’s CEO explained.
He adds that middle-size companies with annual sales up to PLN 100m are in scope of Duda attention, especially those producing meat food.
(EUR 1 = PLN 0,291)