Protektor shoe producer rises 60 percent on new contract

APA - Austria Presse Agentur
28-09-2005, 14:03

Warsaw (Puls Biznesu) – Shares of Protektor shoe producer rose yesterday over 20 percent to PLN 12.9 (EUR 3.3). Since Monday, the company has gained 60 percent.

Warsaw (Puls Biznesu) – Shares of Protektor shoe producer rose yesterday over 20 percent to PLN 12.9 (EUR 3.3). Since Monday, the company has gained 60 percent.

I don’t know why stocks are rising so fast, Piotr Kwasniewski, LZPS Protektor CEO said.Possibly, investors buy the shares on expectations that on Friday the contract for the army will finally be decided. Protektor won the contract worth PLN 80m but than the tender was cancelled. The Military Property Agency (AMW), which announced the tender, filed a suit against this decision.If the decision is favourable, the agreement with AMW may be signed in the middle of October, Protektor’s CEO said.Problems over the contract adversely affected the condition of the company. Half of Protektor’s sales are generated from army contracts.(PLN 1 = EUR 0.256)


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Podpis: APA - Austria Presse Agentur


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