Mostostal Plock Spolka Akcyjna Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2012
November 17, 2012 at 05:14 am EST
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Mostostal Plock Spolka Akcyjna reported consolidated earnings results for the third quarter and nine months ended September 30, 2012. For the quarter, the company reported net income from sales of products, goods and materials of PLN 42,943,000 compared with PLN 18,958,000 for the same period last year. Profit from operating activities was PLN 1,561,000 compared with loss from operating activities of PLN 5,940,000 for the same period last year. Profit on ordinary activities was PLN 1,418,000 compared with loss on ordinary activities of PLN 5,830,000 for the same period last year. Net profit was PLN 1,001,000 compared with net loss of PLN 4,754,000 for the same period last year. Net cash flow from operating activities was PLN 16,565,000 compared with PLN 10,768,000 for the same period last year. Acquisition of intangible assets and tangible fixed assets was PLN 47,000 compared with PLN 97,000 for the same period last year.
For the nine months, the company reported net income from sales of products, goods and materials of PLN 110,369,000 compared with PLN 71,620,000 for the same period last year. Profit from operating activities was PLN 2,646,000 compared with loss from operating activities of PLN 9,965,000 for the same period last year. Profit on ordinary activities was PLN 2,266,000 compared with loss on ordinary activities of PLN 7,442,000 for the same period last year. Net Profit was PLN 1,899,000 or PLN 0.07 per ordinary share compared with net loss of PLN 6,632,000 or PLN 4.33 per ordinary share for the same period last year. Net cash flow from operating activities was PLN 9,029,000 compared with net cash used in operating activities PLN 1,934,000 for the same period last year. Acquisition of intangible assets and tangible fixed assets was PLN 144,000 compared with PLN 237,000 for the same period last year.
Mostostal Plock SA is a Poland-based company principally engaged in the construction and building sectors. It was created as a result of the reorganization of Plockie Przedsiebiorstwo Konstrukcji Stalowych i Urzadzen Przemyslowych (Plock Steel Structures and Industrial Equipment Company). The Company provides such services as manufacture, erection and design of steel structures, tanks, pipelines, and industrial plants, as well as construction, fitting, insulation and anticorrosion works. Additionally, Mostostal Plock SA offers welding services, overhaul and modernization of equipment, machinery, and industrial plants. The Company's main customers are PKN Orlen SA, Przedsiebiorstwo Eksploatacji Rurociagow Naftowych Przyjazn SA, Lotos SA and Anwil SA, among others. As of December 31, 2011, the Company's main shareholder was Mostostal Warszawa SA, holding a 48.66% stake in the Companyâs share capital and 52.65% of the right votes.
MOSTOSTAL PLOCK S.A. 