TIM wholesaler revises forecasts up

APA - Austria Presse Agentur
opublikowano: 05-04-2006, 11:35

Warsaw (Puls Biznesu) – TIM, the listed wholesaler of electronic equipment is going to substantially improve its net income and sales. In the first quarter, the growth rate was two times higher than planned.

Warsaw (Puls Biznesu) – TIM, the listed wholesaler of electronic equipment is going to substantially improve its net income and sales. In the first quarter, the growth rate was two times higher than planned.

The net income of TIM is forecast to grow by over 20 percent to PLN 18.5m (EUR 4.7m). Sales will grow by 19.7 percent to PLN 300m, the management of the wholesales of electronic equipment said.

“Two years ago, I said that we would like to be the biggest company on the market. This year, these plans should come true”, Krzysztof Folta, the CEO and one of major shareholders in TIM said.

“The forecasts are very optimistic”, Piotr Banasik, DM BPH analyst commented.

In his opinion, the net income will amount to PLN 18m and sales PLN 285m.

In the first quarter, sales jumped over 43 percent. In March, the growth rate was even higher and amounted to 52 percent. The majority of sales are generated in the second half of the year.

“We have presented our investment plan to the supervisory board. We want to launch two-three new outlets and to develop our logistic centre in Wroclaw. These projects will not suffice if the growth dynamics stay the same. That’s why the supervisory board asked us to modify the plans”, Krzysztof Folta said.

(PLN 1 = EUR 0.254)

 

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Podpis: APA - Austria Presse Agentur

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