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The Warsaw Voice » Business » May 6, 2014
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WSE listed firms with Ukrainian/Russian operations likely to suffer losses
May 6, 2014   
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Warsaw-listed companies having operations in Ukraine and Russia are warning about a likely negative effect of the conflict between the countries on their financial results, the daily Dziennik Gazeta Prawna reports.

Among companies whose results are likely to suffer are listed ceramics producer Rovese and fashion retailer LPP. Rovese, whose 45% of sales come from Ukrainian and Russian operations, is suffering losses because of EUR-denominated loans at Ukrainian units.

The value of UAH to the EUR dropped in Q1 by 35%. LPP suffers on the weakening of UAH and RUB. The company is expected to show nearly PLN 19 million net loss in Q1, an average analyst forecast shows.

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