Apator meters producer disappoints despite good forecasts

APA - Austria Presse Agentur
01-03-2006, 16:40

Warsaw (Puls Biznesu) – Apator presented its financial forecasts for 2006. Investors were disappointed although income will rise.

Warsaw (Puls Biznesu) – Apator presented its financial forecasts for 2006. Investors were disappointed although income will rise.

Apator, the meters and switchers producer, presented its financial forecasts and plans for this year. Shares fell even 4.3 percent yesterday.

“The market was used to very good news. This time the news were only good”, Michal Majerski, Erste Securities analyst commented.

Apator plans to increase sales to PLN 300m (EUR 79.5m) this year, or by 8 percent in comparison to 2005. Its net income should grow 39 percent to PLN 41m. Michal Majerski believed there are no reasons for the stock to dynamically grow further. Today the company is worth PLN 780m. Shares cost PLN 87-254 within recent 12 months.

 “Investors may be tempted by the planned split, which may make the company more popular among financial investors”, Michal Majerski said.

Shares will be splitted into 11 ones in Summer.

“Today institutional investors have 15 percent of our stock. I hope the value will be increase”, Janusz Niedzwiecki, Apator CEO said.

(PLN 1 = EUR 0.265)

 

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Podpis: APA - Austria Presse Agentur

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