Eldorado post a third quarter 50% profit increase

Grocery chain and wholesaler Eldorado has confirmed its financial results forecast for this year, after posting strong revenues in the third quarter. The company plans to record sales revenues of zł. 893 million with net profits of zł. 13 million by the end of this year. During the past quarter Eldorado had revenues of zł. 236 million, which is 38.7% more than the same period last year, and a 50% increase in profits which stood at zł. 3 million. In August the company opened its 28th Stoktrotka brand store. "In the coming weeks we plan to open two additional outlets, so that in 2003 there will be at least 10 new ones," said Artur Kawa, Eldorado's President, adding that the company is in negotiations with potential candidates to consolidate the wholesale and the retail sector. "Within three years we want to become a nationwide company. Potential takeovers can only strengthen our position," says Kawa. Today a general shareholders meeting is to take place which is to decide on the sale of a 24% stake owned by Enterprise Investors. (Parkiet, p. 6; Puls Biznesu, p. 10) A.K.