Despite losses of zł.50 million Xelion is still on track

In the first half of 2005, the institution incurred a loss of zł.11.7 million, but representatives of Xelion refused to explain the reasons for the negative result. "Everything is going according to the schedule. The company is investing in developing its offer and creating a network of advisors," said Robert Moreń, spokesman of Pekao. However, the plans have already changed because Xelion is no longer planning to break even in 2006. "This should be achieved by the end of the decade, somewhere around 2008-2009," said Moreń. Competitors of Xelion, Expander and Open Finance, are also reluctant to reveal details of their financial standing. (Parkiet, p. 1) M.M.