Poland’s troubled builder Polimex-Mostostal was hit by a loss of PLN 39.24m in the first quarter of the year, following a PLN 23.49m loss in Q1 2013. Its operating loss reached PLN 27.13m in the first quarter of 2014, which was a slight improvement from PLN 32.60m posted in the same quarter in 2013. Revenues hit PLN 412.37m in the first quarter of the year, down from PLN 532.57m posted in the same period of 2013.
The company explains that its operations at the beginning of the year were set back by seasonal difficulties and by its own liquidity problems, which resulted in a reduced ability to acquire new contracts.
