Swarzedz foresees major increase in revenues

2004-03-22

The stock exchange-listed furniture producer Swarzedz is planning a major sales drive in 2004. In the words of Julian Nuckowski, the company's president: "We do not announce forecasts, but our order portfolio for this year stands at PLN 80m (€18m), against an annual production capacity of PLN 100m (€23m)". Last year the group sold goods worth almost PLN 50m (€11.4m) and posted a net profit of PLN 8.6m (€2m). Nuckowski explained that: "We managed to post a net profit because of the restructuring of our finances through the deferral of debts and settlements with creditors". By the end of March a 17% stake in the company should have changed hands, with the brokerage house DM BOS planning to dispose of the shares, although the deadline may be moved.