Indykpol turkey food producer invests in plants

APA - Austria Presse Agentur
opublikowano: 05-10-2005, 14:55

Warsaw (Puls Biznesu) – Indykpol, Poland’s listed turkey food producer, is holding a general shareholders’ meeting on 21 st October. Shareholders will vote for the possibility of buy-back. However, the management will not take advantage of this possibility.

Warsaw (Puls Biznesu) – Indykpol, Poland’s listed turkey food producer, is holding a general shareholders’ meeting on 21 st October. Shareholders will vote for the possibility of buy-back. However, the management will not take advantage of this possibility.

We have an ambitious development plan. Biggest shareholders want us to withhold from paying out dividend or buying shares. The buy-back proposal is just an instrument for the future, Piotr Kulikowski, Indykpol CEO said.Analysts approve of this strategy.

This is a long-term but profitable policy. If the company increases its potential, it may pay out higher dividend in the future, Miroslaw Saj, BISE analyst commented.

Indykpol wants to increase its two production plants. These projects are worth PLN 20-25m (EUR 5.1-6.4m). They are going to be realised till the end of next year. The third quarter (results will be published in a few weeks’ time) was good for the company, “Puls Biznesu” has learnt. Net income should amount to several million zlotys, and be higher than last year (PLN 2.2m). In the first half of the year, Indykpol had PLN 325.6m of sales and PLN 13.2m of net income.(PLN 1 = EUR 0.254)

Poland/Enterprises/Food

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Podpis: APA - Austria Presse Agentur

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