Polish firms see rise in profits
PR dla Zagranicy
Nick Hodge
23.11.2014 14:27
The Central Statistical Office’s (GUS) data has shown that Polish firms have significantly increased their profits in the first three quarters of this year, compared to 2013.
Photo: Glowimages
Photo: Glowimages
According to GUS firms had a net result by September of 74.5 billion zlotys (18 billion Euros), a 6% year-on-year increase.
In addition, 77% of enterprises had a net profit so far this year, compared to 73% for the previous year. The industrial sector in particular saw positive results, with over four-fifths of enterprises posting a net profit.
In spite of Russian trade embargos Poland’s economy has continued to expand at a rapid pace, with third quarter GDP growth of 3.3% surprising many analysts who had previously predicted a slowdown.
Increased business optimism may have been behind the better results. The GUS statistics show a 15% rise in investments so far this year compared to a 2.2% rise in 2013.
A recent cut in the Central Bank’s interest rate to combat deflation may also have contributed to increased profits. (sl)
Source: Rzeczpospolita