Grupa Forte confident despite financial hammering

Bearing in mind the loss of zł.9 million following two quarters, this is an announcement of record high results in the following months. "Everything is going according to plan," said Maciej Formanowicz, president of Forte. The losses were the results of forward transactions at the end of June (zł.2 million), the loss of its new plant in Russia (zł.1 million), severance pay for employees (zł.700,000), as well as the creation of a sales network in Western Europe (zł.1.7 million). The management board claims that these were one-off transactions and that forward transactions, for instance, were already closed with zł.3 million in the black. In Q3 the company should have consolidated sales of roughly zł.125 million, while in the last quarter of the year revenues should stand at zł.155 million. "In 2007 sales should reach at least zł.700 million," said Formanowicz. (Puls Biznesu, p. 8) M.M.