* Says sees 2009 net profit up 15 pct, sales to grow 10 pct
* Q2 net profit up to 38 mln zlotys vs forecast 31 mln
* Plans share issue to buy minority stakes in units
* Shares rise 4 pct (Wraps Polimex news, adds new analyst comment)
WARSAW, Aug 28 (Reuters) - Polish builder Polimex Mostostal predicted its net profit would grow some 15 percent this year after its second-quarter bottom line beat consensus, sending its shares to an 11-month high on Friday.
Polimex also announced plans to issue shares worth 11-13 percent of its existing capital -- worth 2 billion zlotys ($697.6 million) after a 42-percent gain in its share price this year -- to buy out minority stakes in its units.
Polimex's shares rose almost 4 percent by 1141 GMT to their highest level since last September, outperforming a 3.3 percent gain for Warsaw's main WIG20 index.
"On the operating level the results were in line with expectations, but what helped lift the bottom line was financial costs which came in better than the market anticipated," Arkadiusz Chojnacki, analyst at Ipopema in Warsaw said.
Polimex -- whose business spans infrastructure, industrial and housing projects -- grew its net profit by almost a third to 38 million zlotys ($13 million) in the second quarter, as the global slowdown pushed down costs on the company's long-term contracts.
Analysts pegged the bottom line at 31 million.
Financial costs at Polimex plunged 82 percent to 7 million zlotys thanks to hedging gains. A dip in costs coupled with the weaker zloty to boost the net margin grew to 3.2 percent from 2.7 percent a year ago.
Polimex's Chief Executive Konrad Jaskola said he expected net profit rise to outpace sales growth, which he pegged at at least 10 percent. Second-quarter revenue rose 9 percent to 1.18 billion to also beat expectations.
"In 2009 the construction sector sees a combination of factors, in which old contracts are being developed at lower costs of contractors and material, which boost margins," UniCredit CAIB analyst Maria Szymanska said.
"But the current contracts, in the light of far greater competition and pressure on margins grow the likelihood of 2010 being a worse year for the sector ... I expect Polimex' profit to fall by 10 percent next year."
Polimex controls listed construction companies Energomontaz Polnoc and Naftobudowa. (Reporting by Adrian Krajewski and Pawel Bernat; Editing by Dan Lalor and Rupert Winchester) ($1 = 2.893 zlotys)