Novita technical nonwovens manufacturer promises high profits

APA - Austria Presse Agentur
opublikowano: 13-02-2006, 15:18

Warsaw (Puls Biznesu) – This year Novita promises several million zlotys of net income. Then it will start looking for an investor.

Warsaw (Puls Biznesu) – This year Novita promises several million zlotys of net income. Then it will start looking for an investor.

Novita, the technical nonwovens producer from Zielona Gora, western Poland, is finishing its 2006 budget.

“The forecast will be presented around February 20”, Marek Gorny, Novita CEO said.

Last year was not particularly good for the producer of nonwovens used in furniture as well as diapers. The net income fell from PLN 2.2m (EUR 0.6m) to PLN 400,000, missing the PLN 2m forecast. The company failed to sell the machines used to produce carpets, the kind of activity Novita has withdrawn from.

The CEO promises much higher results this year.

“This year’s income will amount to several million zlotys”, Marek Gorny said.

The estimates have been made at a low PLN/EUR exchange rate of PLN 3.83 for one euro. Novita exports two thirds of its production. According to Marek Gorny, the stock will cost about PLN 20 in the near future. It used to cost PLN 20, not it trades at half of this amount. The CEO added that in one year’s time the company will start negotiations to find an investor.

(PLN 1 = EUR 0.264)

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Podpis: APA - Austria Presse Agentur

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