EM&F books zł.80 mln for expansion and store openings

Last year the company opened 53 stores with a total space of 30,000 square meters at a cost of zł.82 million. "We intend to keep our pace of opening new stores. We plan to open 50-60 new outlets. The value of the investment will stand at zł.80-100 million. It will be financed with our own funds, a bank loan and the continuation of issuing mid-term bonds with Bank BPH," said Maciej Dyjas, president of EM&F. The company's plans also envisage a growth in sales by 10-15%, keeping the gross margin at an unchanged level and increasing profitability of individual brands of the group. President Dyjas warned that the company will not post as high a profit as last year when the figure stood at zł.61 million. (Puls Biznesu, p. 11) M.M.