BRW plans zł.300 million IPO to fund its expansion

After providing no financial information to the market, BRW informed that in 2007 it had net earnings of about zł.190 million on revenues of zł.1.7 billion, while in the preceding year it was zł.117 million and zł.1.37 billion respectively. "At the end of the year we anticipate a 10% growth in results," said Stanisław Bosak, president of BRW. The firm will this year open four large space outlets at a cost of about zł.160 million, which will add up to 34 showrooms throughout Poland, 12 in Ukraine and 4 in Greece. However, most of the turnover is generated by multi-brand stores in 47 countries and foreign sales account for 30% of the revenues. Currently, the group is comprised of 21 subsidiaries, including foreign ones, and 20 production facilities in Poland, Belarus and Ukraine. "We are negotiating with a few more companies about potential cooperation or acquisition," said Bosak. The firm has not yet taken a decision on the date nor details of the IPO.