The company with headquarters in Niegardow near Krakow has just transformed into a joint stock company and plans an IPO. The company buys fruit and vegetables from farmers all over the country. Then, it sorts them and packs them. Its clients include Biedronka, Tesco and Plus retailers.
“We sell a lot in abroad, mainly in the south. In 2007, our sales amounted to PLN 55m (EUR 16.4m), this year we expect PLN 90m. The net income in 2006 amounted to PLN 2.5m while in 2007 to PLN 3.3m”, Andrzej Cyrankiewicz, Amplus CEO said.
The company will invest PLN 20m till the end of 2009.
“We want to be listed on the WSE to raise funds for further investments. I cannot talk about them now. Unfortunately, the debut must be delayed because of bearish market. For the time being, we will invest from our own funds, credits and EU funds”, the CEO added.
“It would be hard to sell stock of such a company today but when the situation on the Warsaw Stock Exchange improves, investors may be interested in it. Amplus operates in an interesting niche. A lot will depend, however, on the market evaluation of its stock and risks connected with its operations”, Maciej Bobrowski, BDM analyst said.
(PLN 1 = EUR 0.298)