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Net financial result of enterprises up by 12.5% y-o-y in Q1-Q3


In the first nine months of 2010 the net financial result of non-financial enterprises employing 50 or more people amounted to just over PLN 67.5bn (approx. €16.9bn), which represents an increase of 12.5% compared with the same period a year earlier, according to research by the Central Statistical Office (GUS). By way of comparison, in the first half of the year the net result of the sector grew at an annualised rate of 6%.

During the analysed period, revenues of enterprises from all operations amounted to nearly PLN 1,473bn (€368bn), i.e. 4% higher than in the corresponding period of 2009. As costs rose at a lower rate (by 3.6% y-o-y), the sector’s net profit margin increased to 4.6% from 4.2%. Enterprise liquidity also improved over this period: the first-degree liquidity ratio amounted to 37.7% during January-September, compared with 34.9% a year ago.

About 72.6% of all non-financial enterprises posted a net profit for Q1-Q3, up from 72.5% in the same period a year earlier and from 67.8% in H1. In manufacturing, the percentage of profitable firms increased to 73.1%, from 70.4% in Q1-Q3 2009 and 70.1% in H1 2010.

The share of exporting firms in the overall population of companies was 47%, down from 48.9% a year earlier but up from 46.5% in H1. Profitable exporters represented 74.6% of the total, compared with 72.9% in January-September 2009 and 71.2% in H1 2010.

The survey covered 17,367 businesses employing 50 or more people, drawn from all sectors with the exception of agriculture, forestry, hunting, fishing, financial and insurance services and institutions of higher education.

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