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Computerland banks on the final quarter

2005-11-14 09:44
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2005-11-14 09:44
According to Polish Accounting Standards, the company's operational profit went down by 5.6 percent and net profit decreased by 16.1 percent in comparison to 2004's figures. Revenues, on the other hand, went beyond 2004's Q3 by 7.9 percent. Computerland's top brass says this is due to a huge amount of financial expenditure, such as that related to the amortization of share options.

The chairman of the board, Michał Danielewski, said that Computerland is going to expand into new market branches, such as the chemistry and healthcare sectors. "The company is going to wait and see what the new government does in healthcare," he said.

Michał Michalski, the firm's public relations director, told the WBJ that the previous forecast stands, as the company has always received its best financial results in the fourth quarter of the year.

"The public-orders sector is growing rapidly and we are taking part in many tenders in Poland, some of which we are almost sure to win. Moreover, we are almost 100-percent sure of closing a tender in Russia, one of 13 we are interested in there. This is why we are not inclined to change the forecast," Michalski said.

Kamil Jach



In August this year, Computerland Group's president, Tomasz Sielicki, "was sure" the firm's profits would increase by 100 percent and a month later claimed the company would end the year with zł.800 million in revenues and zł.20 million in net profit. However, last week the firm published its Q3 results, which were slightly worse than expected.
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