Forte loses hope of securing zł.500 million revenues target

This spring Forte launched a new share offer, mainly to raise funds for the investment, but nevertheless construction is delayed. This is due to a delay in completion of an investment by German plywood firm Pfleiderer, which is building a plant next to Forte's location and which will supply the Polish furniture firm. Meanwhile, Forte is on track with the expansion of its plant in Ukraine, which is to launch production in the spring. Andrzej Korzeb, a member of Forte's management, says that with zł.280.5 million in revenues for the first three quarters, the zł.500 million target proved to be too much. "History shows that the second half of the year is always better than the first. But this year was different," said Korzeb, pointing out that the pre-accession shopping spree was a special factor which artificially boosted sales in the first half of the year. (Parkiet, p. 7) T.J.