Bloomberg News

Polish Builder PBG Declines to Three-Week Low on 1st-Qtr Loss

May 16, 2012

PBG SA (PBG), Poland’s third-largest construction company, tumbled to a three-week low after posting a net loss in the first quarter.

The shares declined as much as 6.7 percent to 21.51 zloty, the weakest level since April 24, and traded 5 percent lower at 21.9 zloty, at 9:01 in Warsaw. The stock has slumped 69 percent this year, underperforming the WIG20 Index (WIG20), which slid 2.6 percent.

The builder had a net loss of 60.5 million zloty ($17.5 million) in the first quarter, compared with a 24.1 million- zloty profit a year earlier.

To contact the reporter on this story: Piotr Bujnicki in Warsaw pbujnicki@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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