With just days before all fourth quarter earnings releases are to be disclosed, 150 of the 428 companies on the Warsaw Stock Exchange have published their results. The numbers would suggest that Polish businesses are doing well, but closer scrutiny suggests that one player has won this round.
Including KGHM, the 150 Polish business earned a total of PLN 9.3bn in Q4 2011, up by 29 percent compared to the same period in 2010, when they’ve achieved PLN 7.2bn in profits. However, nearly one third of the figure was made by Polish copper giant, KGHM, which closed the fourth quarter with PLN 3.6bn in profits. In this light, sector’s relatively good results look somewhat weaker, as the total profit of 149 companies is only PLN 5.7bn. That’s a 3.4 percent decrease compared to Q4 of 2010.
