Polimex Reports 388 Million Zloty Net Loss on Order Writedowns

Polimex-Mostostal SA (PXM), Poland’s second largest builder, said today it posted a net loss of 388 million zloty ($116.8 million) in the second quarter, compared with 13.3 million zloty of net income a year earlier.

The deterioriation on writedowns of existing orders that totaled 297.1 million zloty in the road and rail segment, 23.1 million zloty in the general construction segement, and 36.7 million zloty in the power engineering segment, the company said in a disclosure statement.

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