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Tadeusz Andrzejak, as of 17 September 2019, resigned from his membership in the Management Board and from the position of the President of Pozbud T&R. This decision is related to the process of reorganization of the company.
New special purpose vehicle
Tadeusz Andrzejak’s decision to resign from the Management Board and act as the President of the company is dictated by his full involvement in the process of reorganization of Pozbud T&R Capital Group. It will consist in separating the part of the company responsible for the production of windows and doors to the special purpose vehicle. This branch of the company has been supervised for years by Tadeusz Andrzejak, who will continue to manage it. The new company will be 100% dependent on Pozbud T&R. The reorganization plan is to be finalised before the end of 2019.
Good results in H1
Pozbud T&R made a consolidated net profit of PLN 7.2m in the first half of 2019, compared to a profit of PLN 4.2m in the same period in 2018. Consolidated sales revenues totalled PLN 88.6m, up from PLN 58.7m. The sharp rise in revenue is chiefly thanks to a large contract for PKP PLK that Pozbud is carrying out at the moment .
Pozbud T&R plans to expand into residential property development in the coming periods, the report also reveals. Whether it does will depend on whether it can acquire attractively located plots at favourable prices.