UK markets close in 8 hours 16 minutes
  • FTSE 100

    7,573.05
    0.00 (0.00%)
     
  • FTSE 250

    19,163.33
    0.00 (0.00%)
     
  • AIM

    848.59
    0.00 (0.00%)
     
  • GBP/EUR

    1.1601
    +0.0017 (+0.14%)
     
  • GBP/USD

    1.2088
    +0.0026 (+0.22%)
     
  • BTC-GBP

    14,123.20
    +81.29 (+0.58%)
     
  • CMC Crypto 200

    404.45
    +3.75 (+0.94%)
     
  • S&P 500

    4,080.11
    +122.48 (+3.09%)
     
  • DOW

    34,589.77
    +737.24 (+2.18%)
     
  • CRUDE OIL

    80.26
    -0.29 (-0.36%)
     
  • GOLD FUTURES

    1,789.50
    +29.60 (+1.68%)
     
  • NIKKEI 225

    28,226.08
    +257.09 (+0.92%)
     
  • HANG SENG

    18,685.43
    +88.20 (+0.47%)
     
  • DAX

    14,397.04
    +41.59 (+0.29%)
     
  • CAC 40

    6,738.55
    0.00 (0.00%)
     

Polish construction group Budimex sees record revenue in 2022 - CEO

GDANSK (Reuters) - Budimex, one of Poland's largest construction groups, is expected to report record revenues in 2022, its Chief Executive Artur Popko said during a conference call on Tuesday.

"2022 will be a historical year in terms of sales," Popko said, adding that annual revenue will either reach or exceed 8 billion zlotys ($1.70 billion).

The company cited factors including a high order backlog at the start of the year and favorable weather conditions for the rise in sales. In the first nine months of this year, it generated revenue of 6.37 billion zlotys, up 15% from a year ago.

It warned of potential headwinds from high inflation, but Popko added that raw materials prices had begun to stabilise after a sharp increase in previous quarters and even to drop as producers saw falling order numbers.

The company's financial director Marcin Weglowski said meanwhile that he saw no obstacle to paying out the entirety of its net profit in dividends this year, in line with the 2022-2026 dividend policy adopted in June.

"I do not see any restrictions that could prevent us from implementing the dividend policy that we announced," said Weglowski.

In the third quarter, the contractor reported a near 56% year-on-year increase in net profit, while sales revenue stood at 2.37 billion zlotys.

($1 = 4.6955 zlotys)

(Reporting by Patrycja Zaras, Mateusz Rabiega and Maria Gieldon; Editing by Jan Harvey)