Grajewo increases profits but forecast still at risk

 "It is the result of the good economic environment and the beginning of operations in Russia," said company president Pawel Wyrzykowski. The company's new factory in Russia already posted revenues of EUR11 million even though it is currently running at only 60% of capacity. Despite these rosy figures, Grajewo has failed in its bid to buy the remaining 43% of Prospan from the State Treasury, putting it at risk of not fulfilling its forecast of 55% profit increase for this year. Nevertheless, "the deviation from the forecast should not exceed 10-15%," declared Wyrzykowski. In the years 2008-2010 the group's revenues are to amount to zl.2.5 billion and its profit to zl.300 million. In the second half of this year the group wants to invest zl.80-120 million in the building of another factory abroad. Grajewo will also pay out all its profit from last year (zl.93.4 million) in dividends. (Puls Biznesu, p. 15) E.B.