Vistula clothes company has net income of PLN 21 m

APA - Austria Presse Agentur
19-01-2005, 11:10

 

Warsaw (Puls Biznesu) – Vistula, a company specialising in clothes design and selling, had PLN 120 m (EUR 29.4 m) of sales and PLN 21 m of net income, preliminary data show.

In 2003, it had, PLN 110 m of sales and PLN 5.7 m of loss. A third of last year’s income comes from one-time financial transactions including selling assets of restructuring the debt. This year, there will be no more such transactions. ‘Despite that we are planning to repeat our 2004 result. It will be sheer income’, Michal Wojcik, Vistula CEO promised.

The result should be achieved thanks to retail network. Today, the company has 38 shops, but is going to open at least one new shop every month. In December, there should be around 50 of them. ‘Our own network gives higher margin of profit and is more stabile and safe’, Michal Wojcik explained. Retails sales will exceed 50 percent of the company’s annual sales. Vistula is considering moving part of production to China. ‘There is only the problem with the quality. For the time being, they are not able to keep our standards’, Michal Wojcik said.

(PLN 1 = EUR 0.245)

Poland/Enterprises/Clothes

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Podpis: APA - Austria Presse Agentur

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Świat / Vistula clothes company has net income of PLN 21 m