Eurofaktor, Poland's biggest non-banking factoring company, has increased its net profit and turnover forecast for this year.
Having taken into consideration the financial results from eleven months of 2004, and the realisation of current agreements, Eurofaktor decided to increase its 2004 net profit prognosis to ZL5.1m, compared with the ZL4.3m quoted in the company's prospectus.
The turnover is expected to reach a record high value of ZL1.02bn. Meanwhile, the forecast for the 2005-2006 period remains the same. Next year's net profit is expected to reach ZL8.3m and turnover to ZL1.8bn. For 2006, the figures are ZL10.4m and ZL2.7bn respectively.
Eurofaktor made its debut on the Warsaw stock market on 30 December 2004. The managing board maintained its original strategy of dividend payments, and recommended that the minimum dividend be settled at 30 per cent of the company's net profit.
Source: Polish News Bulletin
