As expected, the builder PBG have been hurt by the Polish road contracts, having just hit a record loss of PLN 1.6bn in the second quarter of the year. The result is a rarity not only for the construction company, but also for companies listed on the Warsaw Stock Exchange. “Such a significant drop in results for PBG stems from the liquidity difficulties caused by the road contracts, which led to a slowdown or interruption of construction work. As a result, sales revenues fell for the company,” the company writes in a statement. Three of PBG’s subsidiaries filed for bankruptcy in June: PBG, Hydrobudowa and Aprivia. In the case of Apriva, the company is now in liquidation.
