ComputerLand hopes EU membership will bolster results

Warsaw-based Computerland (CL) has not surprised analysts by posting poor third quarter financial results. It recorded only zl. 100.5 million revenues and zl. 2.7 million net profit, which means a sales drop of more than 16%. The company believes it will have an annual turnover comparable to last year, but may end up with a worse operational profit. "Expenditure for IT services are on the decrease in many sectors. The number of contracts from the public administration and health sectors were down. "In view of this, the firm's operational profit is likely to drop at the end of the year," said CL's general director Michal Danielewicz. Around 60% of company revenues are generated from the banking sector, while in the public sector CL managed to sell equipment and services totalling only zl. 8.5 million. CL hopes that after the country joins the EU, public sector contracts will begin to revive. CL has great hopes once the full Medical Services Register (RUM) is launched, as the project could create revenues of zl. 500 million. (Puls Biznesu, p. 9) A.Z.