Frantschach Świecie's Q2 profits up by over 100% from same period last year

Paper producer Frantschach Świecie's net profit in the second quarter of 2003 reached zł. 63.8 million, 105% more than in the respective period last year. This is a clear sign that the paper production sector has emerged unscathed from the recent economic slowdown that has hit the European markets. The company's net profit growth in terms of złotys is 21% year on year, with production up by 2% on 2002 and sales 3% higher than last year. At the same time, Świecie's revenues for Q2 grew by 21.3% to zł. 342.16 million. The company's operational profit in the respective period grew by 79.5% to zł. 91.6 million with net profit at zł. 63.8 million compared to the zł. 31.16 million recorded last year. (Parkiet, p. 3) J.K