NBP: Polish enterprises' financials worsen in Q1, exporters in best conditions

By bne IntelliNews June 24, 2013

Sales revenue of Polish enterprises continued to diminish in Q1 albeit at a more moderate pace, while their profits' drop was less steep than at the end of 2012, according to a report by the National Bank of Poland (NBP). In some sectors, enterprises reported improvements of their profits in quarterly terms.

The central bank noted that, similarly to the previous few quarters, revenues drop resulted from shrinking domestic sales, while exports-related revenue continued to grow - even at a higher pace. The situation of exporters is still better than that of other enterprises, NBP stressed.

At the same time, the fall of employment in the entire sector accelerated in Q1 2013 as compared to Q4 2012, while wages dynamics remained slightly positive. As for investments, they continued to decrease in Q1 but at a much less dynamic pace than in Q4 of 2012, the central bank concluded.

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