Elana raises its 2004 profit forecast to zł.36 million thanks to rising sales

Chemical company Elana, part of the Boryszew group and majority owned by Roman Karkosik, will post a 2004 net profit of at least zł.36 million against earlier forecasts of zł.27 million. "During the five five months of this year we have so far made a profit of zł.26 million," declared company president Zbigniew Przesmycki. Elana's 2004 revenues will amount to zł.874 million as compared to zł.672 million in 2003. The management of the firm is expecting higher profits despite the fact that it has only recently begun paying income tax. "The reason for this was that we had to first settle zł.70 million of accumulated losses," claims Przesmycki. By the end of July, Przesmycki will present the supervisory board with a five-year development program, which might envisage taking over German companies. (Parkiet, p. 4) M.M.