ABM Solid, the construction group owning listed Respud, does not give up its plans to grow by acquisitions.
“Till the end of this year or in the first quarter of 2009 at the latest, we will inform about an acquisition. We are in advanced negotiations with four Polish private companies. All of them are profitable”, Marek Pawlik, ABM Solid CEO said.
These companies have several dozens to several hundreds millions of zloty of annual sales.
The acquisitions will be financed from, among others, funds raised in a share issue. The company still has PLN 10m (EUR 2.8m) left for this purpose. ABM Solid will also lend money from banks. There will be no new share issue for the time being. The CEO promises better third quarter results than last year when the company had PLN 2.1m of net income against PLN 53.32m of sales. This year, the company forecasts PLN 400m of sales and PLN 15.1m of net income.
(PLN 1 = EUR 0.289)