Furniture producer is optimistic after wobbly performance over the last year

The firm's revenues in the last three months of 2004 amounted to zł.8.5 million and were nearly 50 percent lower than in the same period of 2003. The revenues for the whole of 2004 were close to those from the previous year and amounted to zł.49.4 million. The consolidated loss was zł.10.7 million. Swarzędz is expecting the situation to improve in Q2 2005, mainly thanks to its latest share issue. The company is going to devote zł.3.5 million of the capital raised from the issue to the purchase of production materials. Investors' reaction to the news about Swarzędz's poor financial results was negative. On Friday the company's shares dropped by 4.2%, to zł.2.2. (Parkiet, p. 4) A.F.