News Parkiet

Equity markets

Corpate earnings rose in 3Q, analysts say

Major Polish corporations are set to report higher earnings when they publish their third-quarter reports over the next few days, analysts say. Banking industry and oil companies outpaced most other stocks according to consensus estimates, while mid-cap stocks may suffer because of foreign exchange losses and higher commodity prices.

Civil engineering

Polimex to boost sales

Poland?s second largest publicly traded building company Polimex-Mostostal Siedlce plans to boost its sales through organic growth and new acquisitions, chief executive Konrad Jaskóła said in an interview with PARKIET. It is looking for new road and railway construction companies, Jaskóła said, after the failed acquisition of PRInż, southern Poland?s biggest road construction group.

Polimex is also looking at new markets, including residential property development project in Ukraine and in major Polish cities, Jaskóła said.

He added that he isn?t worried about his company being a takeover target because of growing market capitalization. Shares of Polimex closed at 48.8 zloty, up 1.88 percent on Friday giving the company market value of approximately 900 million zloty.

Pharmaceuticals

Bioton sees higher sales in Russia and East Asia

Drug-maker Bioton S.A., a Polish pharmaceutical company that styles itself as the only Central European biotechnology stock says it expects a boost in sales and earnings from subsidiaries in Russia and in the Far East. Bioton, whose shares rose nearly 70 percent over the last few weeks, said it may present a revised earnings forecast along with third-quarter earnings report, due before November 15.

Bioton expects its first insulin sales from its 20-million dollar factory in Russia in 2007, chief executive Adam Wilczęga said. Its second major international project, Singapore-based SciGen, a small biotech start-up, may start selling Bioton products in Asia, including the vast Chinese market, at about the same time, Wilczęga said.

Building materials

Koelner to close UK acquisition ?within days?

Fastening systems manufacturer Koelner SA expects to close its acquisition of UK?s Rawlplug group ?within a few days?, chief executive Radosław Koelner told PARKIET on Friday. Koelner officials said earlier the takeover of Rawlplug, a slightly smaller company, will be financed with a mix of bank debt and own funds. They said Koelner has no plans to raise new equity to pay for Rawlplug.

Government

Economists skeptical about new policy

Mainstream economists say they are skeptical about the new policies unveiled by prime-minister designate Kazimierz Marcinkiewicz. Marcinkiewicz, a member of Law and Justice, the winner of this month?s presidential and parliamentary elections, promised new tax breaks for families with more than one kid and tax code changes.