CL looks to utilities for future revenues growth

Computerland (CL) announced that in 2004 it wants to increase its revenues coming from the municipal utilities sector, mainly companies producing and supplying energy, gas, water and heat. CL expects its 2004 sales to this sector to be around zł. 100 million, up from projected 2003 sales of zł. 70 million. The company has recently suffered setbacks with defeats in key and lucrative tenders. These were major factors behind the 30% fall in CL's share price since the end of summer. On Friday, its shares went further down to reach zł. 75 each, its lowest level in two years. "Computerland's share price should not change substantially by the end of the year," said DB Securities analyst Włodzimierz Giller. CL's sales reached zł. 234 million after the first six months of 2003 and it is expected that they should grow a further 40% by the end of the year. (Parkiet, p. 4)