Grupa Kęty holds fast in the face of Q2 profits and revenues falloff

Over Q3 the company expects to close negotiations concerning two planned takeovers. "The companies, which would enter our capital group, would give us revenues of about zł.300 million a year," said Dariusz Mańko, acting president of GK. The firm is conducting talks on the acquisition of two branch entities situated in Central and Eastern Europe. The firm plans to spend no more than zł.100 million on the capital investments. The company is planning to finance the takeovers from its own capital and credits. Apart from that, GK is also considering the purchase of a stake in a firm from outside Europe. In Q2 this year GK's consolidated revenues amounted to zł.176.7 million, which was nearly 19% less than in the same period of 2004. (Parkiet, p. 6) A.F.