FSO post zł.159.4 million profit after long struggle
"This year's profit of FSO is in 37% obtained from core business. The remainder from financial operations, mainly positive exchange rate differences. We are paying lower capital instalments and interest on our foreign currency loans," said Krystyna Danilczyk, spokesperson for the firm.
Earning plans for 2008 were not disclosed but the firm was planning to manufacture 230,000 cars and assembly units, but it had some delays in H1. "In theory we might not make it on time, but autumn is usually a busy period for us. Anything can happen," said the spokesperson. She added that there might be some changes in the scale of production of Chevrolet Aveo and Lanos cars.
Analysts praised the financial results and stressed that perspectives might also be good. "The Ukrainian market, where FSO delivers most of its production, is growing. Also, sales of Aveo to European markets seems to be favorable. The combination of the American brand, Korean quality and Polish reliability in producing cars will certainly help in selling the vehicles," said Wojciech Drzewiecki, president of analytical company Samar.
Source: Puls Biznesu (M.M.)
Earning plans for 2008 were not disclosed but the firm was planning to manufacture 230,000 cars and assembly units, but it had some delays in H1. "In theory we might not make it on time, but autumn is usually a busy period for us. Anything can happen," said the spokesperson. She added that there might be some changes in the scale of production of Chevrolet Aveo and Lanos cars.
Analysts praised the financial results and stressed that perspectives might also be good. "The Ukrainian market, where FSO delivers most of its production, is growing. Also, sales of Aveo to European markets seems to be favorable. The combination of the American brand, Korean quality and Polish reliability in producing cars will certainly help in selling the vehicles," said Wojciech Drzewiecki, president of analytical company Samar.
Source: Puls Biznesu (M.M.)
