Mieszko candy producer improves net income by 790 percent

APA - Austria Presse Agentur
opublikowano: 10-02-2006, 15:41

Warsaw (Puls Biznesu) – The listed candy producer earned 790 percent more than a year earlier. It forecasts another year of growth.

Warsaw (Puls Biznesu) – The listed candy producer earned 790 percent more than a year earlier. It forecasts another year of growth.

While last year’s sales of Mieszko rose by 3.5 percent, the operating income improved by 60 percent to PLN 7.6m (EUR 2m) while net income grew by 790 percent to PLN 1.5m. In the fourth quarter, the income rose, respectively, by 90 and 5,100 percent. The management stressed that the growth rate was an effect of restructuring. Another reason could be low base.

“We want to spend the profit for supplementary capital, so we won’t recommend to pay out dividend”, Marek Moczulski, Mieszko CEO said.

Analysts believe the quarterly reports will be the key factor for this year’s share price. Last year, the stock lost 12.7 percent.

“If the company repeats the trends from the fourth quarter in upcoming reports, shares may grow by PLN 1. If they make a mistake, it will be hard to regain investors’ trust”, Miroslaw Saj, BISE analyst estimated.

Yesterday, Mieszko stock cost PLN 3.41.

 

(PLN 1 = EUR 0.264)

 

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Podpis: APA - Austria Presse Agentur

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