In the first quarter of 2005 the group generated revenues of around zł.152 million. Operating profit stood at zł.8 million and net profit amounted to zł.3.5 million.
"We are feeling the economic slowdown in the commmercial market, and in the market connected with the national treasury, one can already see a slowdown related to the [upcoming] elections," the president of ComputerLand Group, Tomasz Sielicki, added.
On the back of the warning, ComputerLand also announced significant changes to its management. Sielicki, formerly the president of the management board at ComputerLand, was made president of the ComputerLand Group by a meeting of the supervisory board. The company said that the move was made to free up Sielicki to concentrate on the group's general strategy, mergers and acquisitions and international partnerships.
Taking his place as president of the management board is a former CEO, Michał Danielewski, who will now run the company's day-to-day operations.
"We hope that this will add more value to the company, and allow us to be more creative," Sielicki said, emphasizing that the company will now be more able to focus on acquisitions in Ukraine and Russia, where the company hopes to generate 20 percent of its revenues in two years' time, as well as strengthening its partnerships with its foreign partners such as India's I-flex. "We have a great chance to be a regional leader," he said.
Andrew Kureth
ComputerLand's revenue and operating profit in the second quarter will be lower than the same period last year, when income reached zł.204 million and profit from operations reached zł.11.6 million, company officials have said.
Źródło:
