ComArch's impressive first half results

ComArch presented its results for the first half of the year. "Our turnover was zł.120 million, which is 30% higher than in the same period of 2003," said company president Janusz Filipiak. However, its 2004 profit level was just zł.3.3 million. ComArch wants to end the year with sales of around zł.300 million. "The second quarter, just like Q1, has been very good for our company," added Filipiak. ComArch closed 2003 with a turnover of zł.256 million and a profit of zł.9.2 million. Filipiak confirmed that the company wants to achieve an annual growth rate of 20%. Due to unfavorable VAT rates in Poland, ComArch wants to open small production centers in Kiev and Bratislava. They also want to open representative offices in France and Belgium. In the meantime, ComArch is enjoying another small victory as the football club that it owns, Cracovia, won 4:0 against Górnik Polkowice. (Parkiet, p. 4; Rzeczpospolita, p. A16) D.W.