Bytom clothes producer satisfied with Q3 results

MAG
29-10-2008, 15:59

Warsaw (Puls Biznesu) – The producer of  male’s clothes wants to acquire rival Warmia, will raise capital on the WSE or  lend money.

Bytom, the producer and distributor of male’s clothes, is satisfied with third quarter results. They have not been published yet. In the first half of the year, Bytom had PLN 58.9m (EUR 16.2m) of sales and PLN 3.6m of net income. Next year, the group plans PLN 180m of sales and PLN 18m of net income.

“We assume we will have 90 shops at that time, up from 72 today and the GDP growth will amount to at least 4.5 percent”, Tomasz Sarapata, Bytom CEO said.

Besides, Bytom plans to acquire Warmia, the producer of coats which is being privatized.

“This is a priority”, Tomasz Sarapata added.

Bytom is conducting a share issue. The company wants to raise PLN 22m. PLN 12m should be spent to increase capital of Warmia, PLN 5m to launch new shops and PLN 2m to increase capital of subsidiaries. If the issue is not successful, Bytom is going to invest its own funds and take a credit.

(PLN 1 = EUR 0.275)

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Podpis: MAG

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