Action sold a building in Wroclaw for PLN 8.74m (EUR 2.3m). The computer company raised PLN 4.5m of income in this transaction.
“This is yet another step to meet the forecast of PLN 22.9m of net income. Before, in June, we signed a contract with the Ministry of Education”, Jacek Krawiec, Action CEO said.
Two big contracts for the ministry worth PLN 358m will be ended in July. Even if Action wins any of them, its results will not be affected because the contract will be implemented in October. The financial year ends on July 31st.
Since the middle of April, Action stock has risen from PLN 17 to 30.
“The company was underappreciated because of unfavorable rumors accompanying its IPO. We also had a weaker than expected first quarter result”, Jacek Krawiec said.
He met financial investors to convince them that his company may be a good investment target. Opera, a group of funds, increased their engagement to over 5 percent. According to Jacek Krawiec, the next financial year will be devoted to further restructuring of the group, including subsidiaries. In autumn, an advertisement campaign of its on-line shop A.pl is planned.
(PLN 1 = EUR 0.266)