A slight crash in Computerland

The share price of Warsaw-based Computerland fell by as much as 7.8% during yesterday's trading on the Warsaw bourse. This came as a result of its board's information concerning unsatisfactory financial results in H1 2006 and the announcement that there would be a significant loss. "It was certainly a negative surprise for the market. It was widely expected that Computerland would post a profit", commented W³odzimierz Giller, an analyst with DB Securities. Computerland explained that the worse-than-expected results were due to the implementation of the CoLorado savings program, the merger with Emax and the delay of the implementation of certain contracts. "Indeed, the market is difficult. There are no orders from the public sector which could improve the situation", added Giller. The company's board stated that the financial results in H2 2006 would be better. "We will see. But without contracts from the public sector, it is difficult to see what the source of the improvement is to be", stated Giller. (Puls Biznesu, p.10) E.B.