Polish Stelmet sold fewer garden-wood products in the UK as its main sales market in the first half of its business year 2016/17 (31 March). The company’s sales revenue and earnings were impaired by the development in the rate of exchange between the British pound and the Polish further and were able to be compensated for by the higher sales in continental Europe such as the 14% in sales revenue in Germany, 9% in France, and 6% in Poland.
Stelmet’s sales revenue in the first half-year correspondingly fell by 4% to PLN228.4m. EBTDA decreased 21% to PLN22.6m and post-tax profit fell by 28% to PLN10.5.