Builder Pomgrad going strong, prospects good

Murska Sobota, 14 July (STA) - The Murska Sobota-based company Pomgrad, which is rumoured as one of the prospective builders of the planned Magna paint shop in Slovenia, has reported EUR 125m in revenue for 2016 and an operating profit of EUR 2.3m.

The group expects similar revenue this year, while operating profit is projected to increase to around EUR 5m.

The company's CEO Igor Banič told the STA that Pomgrad, which allocated EUR 817,000 of its EUR 20.1m in distributable profit for dividends, had managed to keep revenue at 2015 last year despite a deterioration in market conditions and lower prices. Operating profit was slightly lower than in 2015.

The builder's main projects last year included the Draženci-Gruškovje motorway section, the Brdo Ljubljana residential development, the Domžale-Kamnik wastewater treatment plant, and Hotel Mond in Slovenske Gorice (NE).

This year's projects include an upgrade of the Slovenska Bistrica-Poljčane (NE) rail section, the Murska Sobota bypass, and the new facility of pharma company Lek, part of Novartis, in Prevalje (N) as its biggest contract.

While complaining that funding promised from the state for the renovation of the transport infrastructure is coming too slow, Banič feels confident about the prospects for next year, saying the number of tenders will increase. He also noted an uptick in private investment.