The value of the eight largest construction companies listed on the Warsaw Stock Exchange fell by nearly 25 percent during the first quarter of the year, to zł.8.6 billion, according to calculations made by Parkiet. Erbud saw the highest loss, of about 50 percent.

Investors negatively assessed the financial results of most of the companies. Expected lower margins and anticipated cuts in road and highway construction activities also contributed to the drop.

Most analysts approached by Parkiet agreed that construction sector stock will not appreciate much over the next few months. Upcoming large-scale bids in the energy sector may, however, improve the situation in the industry.

On the other hand, many experts in the market are voicing the opinion that the discount on construction stock may have been a bit too drastic.

Poland AM