Giovanni Bossi, managing director of the Italian factoring company IFIS, yesterday confirmed its plans to enter the Milan Star index in 2003. The 19-year-old company, which acquired bank status in January, is now focusing on its international expansion. It also expects its turnover to rise by 50 per cent over the next two years.
At present, IFIS is active in Hungary, Romania and the former Yugoslavia. Its capital is divided between the holding company La Scogliera (72 per cent), the market (25 per cent) and its managers (3 per cent). Last August, moreover, IFIS was admitted to Factor Chain International. It closed the first half with a 23.4 per cent rise in net profit, to 1.9m euros, and 26.6 per cent growth in turnover, to 366m euros.
Source: Il Sole 24 Ore/FT