Action raises financial forecast for 2011

2011-10-31



Action, a listed IT and consumer electronics distributor and computer hardware producer, raised its financial forecast for 2011. Revenues are to increase by 22.3% year on year to PLN 2.58bn (€595.5m) and net profit it to improve by 49.1% to PLN 39.2m (€9m). Previously, in August 2011, the group had forecast PLN 2.43bn (€560.8m) in revenues and a PLN 34.1m (€7.9m) net profit.
According to Action, the update results from more effective than previously planned use of sales capacity in Poland and abroad, optimisation of operating costs and a wider product assortment as well as gaining new markets.
As Retail Update Poland previously informed, Action increased revenues by 40% year on year in September 2011, a record for the company, while sales rose by 30% in Q3 2011 from PLN 500m (€115.4m) in Q3 2010. In Q4 2011, Action wants to increase revenues by 20-30% year on year. In H1 2011, the group had revenues of PLN 1.11bn (€256.2m) and a PLN 17.3m (€4m) net profit, up 14.6% and 114% year on year, respectively.