It is no secret that the Polish economy has been slowing down lately, and the second-quarter results of major firms only serve to prove that the situation is worsening. There were some exceptions, but the vast majority of companies listed on the blue-chip WIG20 index of the Warsaw Stock Exchange did not impress.

Indeed, when it comes to profits, there hasn’t been such a significant decline for quite some time. Combined net profits of the 20 WIG20 firms were a stunning 37 percent lower than in the corresponding period of the previous year, Parkiet reported.

Combined revenues meanwhile were only 12 percent higher than in the second quarter of 2011, a growth rate much lower than in recent quarters.

Analysts warn that if the Polish economy keeps slowing down, investors will have to get used to poor financial results published by major firms throughout the next few quarters.

Poland A.M.