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Zabkowice foil producer is to fight to realise forecasts

APA - Austria Presse Agentur
opublikowano: 22-08-2005, 15:35

Warsaw (Puls Biznesu) – Zabkowice ERG, Polish listed foil and adhesive plaster producer, said it would have PLN 3.38m (EUR 838,340) of net income. In the first half of the year, however, the company had PLN 0.5m of loss.

Warsaw (Puls Biznesu) – Zabkowice ERG, Polish listed foil and adhesive plaster producer, said it would have PLN 3.38m (EUR 838,340) of net income. In the first half of the year, however, the company had PLN 0.5m of loss.

“We are not going to surrender. We will fight till the very end to meet the forecasts”, Jaroslaw Lenartowski, the company CEO said. Zabkowice wants to sell intangible assets. “Without this transaction, it would be impossible to meet the forecasts”, the CEO explained.

The adhesive plaster unit is going to be sold. This is not the major activity of Zabkowice. The unit has no losses. Zabkowice hopes to earn PLN 1.5-2m of income thanks to the transaction. Jaroslaw Lenartowski stressed, however, that he would sell the unit only at a good price. Therefore, he may still revise the forecast down at the end of the third quarter. He added that the PLN 50m of sales forecast earlier are no problem. April was the worst month for Zabkowice. Oil prices made production of artificial goods very expensive. June, however, was allegedly profitable for Zabkowice, July was quite good, too, and August seems to be good as well.

(PLN 1 = EUR 0.248)

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Podpis: APA - Austria Presse Agentur

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