Emax's revenues soar, but it still posts a loss

Emax, a Poznań-based IT company, has posted Q2 sales revenues of zł.89 million which marks a 154% growth in comparison with the same period last year. The Q2 net profit amounted to zł.3.3 million. However, after the first six months of 2004 the company's net loss still amounts to as much as zł.1 million. "This is due to seasonal factors in our sector," explained Emax's president Piotr Kardach and added "The second half of the year should be considerably better. Therefore we maintain our annual forecast, which envisage revenues of zł.280 million and a net profit of zł.15 million." By the end of July the value of orders received amounted to zł.200 million in comparison with just zł.135 million last year. Emax is also interested in acquisitions of other IT companies. "We are in talks with several enterprises. One acquisition may even be completed this year'" revealed Kardach. (Parkiet, p. 5; Puls Biznesu, p. 8) E.B.