Wroclaw, Poland — Selena, which supplies formulated PU systems to the building trades, had total sales of PLN 271m ($ 56.5m) in first quarter of 2019. This is an increase of 9.27% on the equivalent period last year.
Sales grew organically, with a higher share of innovative products that have higher margins and optimised formulas in the mix.
Operating profit grew dramatically first quarter of 2019, reaching PLN 10m. This compares with PLN 740,000 in the first quarter of 2018.
Krzysztof Domarecki, Selena's CEO, said: 'We have another good quarter behind us. This is the most difficult time for the industry.'
He added that milder winters and earlier springs have helped to extend the time during which construction can take place. It is also helping to reduce the cyclical nature of the business. This is aiding Selena, Domarecki added.
'The situation in the commodity market is calming a bit, making it easier to plan purchases and get good margins on products,' he said.
