Sokolow meat producer thrives despite strong zloty and expensive meat

APA - Austria Presse Agentur
opublikowano: 02-11-2005, 14:16

Poland: Warsaw (Puls Biznesu) - In the third quarter, Sokolow meat holding had over PLN 400m (EUR 100m) of sales, or 20 percent more than last year. The operating income of the listed group exceeded PLN 7.6m, while net income amounted to PLN 4.5m, and was 2.5 times bigger than in the same period of last year.

Poland: Warsaw (Puls Biznesu) - In the third quarter, Sokolow meat holding had over PLN 400m (EUR 100m) of sales, or 20 percent more than last year. The operating income of the listed group exceeded PLN 7.6m, while net income amounted to PLN 4.5m, and was 2.5 times bigger than in the same period of last year.

We have managed to generate sales higher than planned despite high meat prices and unfavourable exchange rate, Boguslaw Miszczuk, Sokolow CEO stressed.

Investors appreciated the news. On Monday, shares of the company controlled by Scandinavian Saturn Nordic Holding was adding over 4 percent.

 

After nine months, sales of the meat producer exceeded PLN 1.1 billion and were 11 percent higher than in 2004. In 2005, sales may exceed PLN

1.5 billion, which would be a record level. Analysts believe it is possible.

The company has good prospectives. You may expect farther improvement in the fourth quarter, which is usually the best one in meat sector, Remigiusz Sopal, IDM brokerage analyst commented.

Sokolow management also hope for better results.

In the fourth quarter, meat prices should be lower, which would generate additional income. The budget for this year will be achieved easily, Boguslaw Miszczuk believed.

The company has not published any forecasts. According to "Puls Biznesu"

sources, they should be much better than in 2004. Accoding to DM BOS analysts, consolidated sales should amount to PLN 1.549 billion, and be higher by 14 percent, while operating income should equal PLN 34m and be

65 percent higher.

 (PLN 1 = EUR 0.250)

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Podpis: APA - Austria Presse Agentur

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