Amica tempers growth expectations

One of Poland’s leading manufacturers and exporters of household appliances, Amica, has released its forecast for revenue growth in 2017 and 2018, according to a Polish press report late on Thursday. Earlier this year, it had predicted growth of PLN 3.4 billion per year. However, according to the company’s CEO, Wojciech Kocikowski, that figure changed after sales in Russia dropped substantially. “Today may be [the implementation of this order of 3.4 billion] very hard,” he said. However, the company was optimistic about a moderate level of growth. It has revised its goal, now aiming at annual revenue increases of 10 percent growth rate, y/y. “[This]  increase in revenue is a very ambitious goal for the next two years, Kocikowski added. During Q1 of 2016, the company’s revenues increased by 23 percent.