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The Warsaw Voice » Business » April 30, 2014
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Budimex net rises above forecast
April 30, 2014   
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Construction firm Budimex, a unit of Spain's Ferrovial, posted an attributable net profit of PLN 42.8 million in Q1 2014, edging out market expectations for PLN 38.3 million net take and up by 22.3% year on year, the firm's Q1 financial report showed.

Revenues were actually below expectations and down 2.2% y/y, but with input costs down by 5.7%, gross profit on sales surged by almost 30%.

The decline in sales was likely caused by disposal of the Danwood unit in late 2013, as sales figures for its both main segments were either flat (construction) or up (real estate) y/y. Cleared of the effect of Danwood disposal, sales would be up 8% y/y, CEO Dariusz Blocher said in a comment sent to the press.
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