Budimex reveals successful half-year results

Polish-based Budimex SA has recorded half-year revenues of PLN2.4 billion (€550 million) – an increase of around 25% on the same period a year ago.

The company said its construction sector grew 9.4% year-on-year for the half-year period, due to road contracts starting ahead of schedule – two sections of the A1 motorway, and a motorway section of the A4, both in Poland.

Budimex said its gross margin on sales was up 40%, while its gross margin on operating profit rose 38%. It said this was attributable to contracts beginning ahead of schedule, low commodity prices and the decreasing cost of hiring subcontractors.

The company’s order book for the first half of 2016 was PLN9 billion (€2.07 billion), which was a record high for Budimex.