Forte will get out of the red this year

opublikowano: 23-05-2007, 17:51

Warsaw (Puls Biznesu) – The furniture group hopes to break even in the middle of the year, which is good forecast for the whole year.

 

In the first quarter, Forte had PLN 1.6m (EUR 422,400) of net income. The April-June period is usually weaker.

“We estimate that the net income will be close to zero after the first half of the year”, Maciej Formanowicz, Forte CEO and main shareholder said.

The company had PLN 8.6m in the first six months of last year.

“To our surprise, prices of the materials jumped in 2006. This element is weakening, on the other hand we raise prices of our goods”, Andrzej Korzeb responsible for the company’s finances added.

 

If Forte manages to break even in the first half, it may generate good result. Fall is the best period in furniture sector.

“I believe the net income will be substantially better than in 2006. It may be higher than the one generated two years ago”, Maciej Formanowicz said.

Two years ago, the company had PLN 16.7m of net income. Last year, it was PLN 12.6m.

(PLN 1 = EUR 0.264)


 

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