News Parkiet

Corporate earnings

Corporate sales outpacing earnings growth, survey shows

Second-quarter revenues of the 250-odd companies whose shares are listed on the Warsaw Stock Exchange grew faster than first-quarter sales, while their total earnings growth slowed down, a recent survey by PARKIET shows. Second-quarter sales totaled PLN 34.7 billion, while earnings fell to PLN 2.2 billion.

Privatization

Poland to sell PGNiG next month

Poland?s Treasury Minister said he has decided to sell a 15 percent stake in PGNiG natural gas monopoly in an Initial Public Offering next month, despite protests by mainstream opposition parties at the parliament. PGNiG, one of Poland?s top companies by sales, plans to raise about 1.5 billion zloty selling 900 million new shares.

Personal savings

Poles saved 700 million zloty in IKE accounts

Polish investors saved about 700 million zloty in tax-sheltered Individual Retirement Accounts (IKE) over the last eighteen months to the end of June, Ministry of Social Policy said in a recent report. The number of active IKE accounts rose almost 60 percent to just under 270 thousand.

Monetary policy

Inflation projection to stay

below MPC target, analysts say

Upcoming inflation projection by Poland?s central bank is expected to stay below annual target of 2.5 percent set by the country?s Monetary Policy Council, economists say. One analysts says oil prices would have to go up to more than 100 dollars a barrel this year for the inflation to hit MPC?s target.