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Net financial result of enterprises up by 14.6% y-o-y in Q1-Q3


In the first three quarters of 2011 the net financial result of non-financial enterprises employing 50 or more people amounted to PLN 77.4bn (approx. €19.3bn), which represents an increase of 14.6% compared with the same period of the previous year, according to research carried out by the Central Statistical Office (GUS).

During the analysed period, revenues of enterprises from all operations amounted to nearly PLN 1,653bn (€411bn), i.e. 12.2% y-o-y higher than in the corresponding period of 2010. As costs rose at a slightly slower rate (12.1% y-o-y), the sector’s net profit margin improved to 4.7% from 4.6%. At the same time, there was a certain deterioration in corporate liquidity in Q1-Q3, with the first-degree liquidity ratio down to 36.7% from 37.7% a year earlier, and the second-degree ratio to 104.5% from 105.7%.

The figures also show that 72.8% of all non-financial enterprises posted a net profit in the nine months to the end of September, up from 72.6% a year earlier. In manufacturing the percentage of profitable firms rose more significantly, to 76% from 73.1%.

The share of exporting firms in the overall population of companies fell slightly to 46.6% from 47% in Q1-Q3 2010. The proportion of profitable companies among exporters increased to 77.2% from 74.6%.

The survey covered 17,173 businesses employing 50 or more people, drawn from all sectors with the exception of agriculture, hunting, forestry, fishing, financial intermediation and higher education.

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