Grupa Kęty's 2005 profit forecast saved by a good Q2

According to the firm's management board, the demand for their products is so high that there is no point in correcting the forecast. Yesterday, the company announced that it expects its Q2 net profit to amount to zł.23-24 million. The consolidated operational profit for the same period should be zł.26-27 million, which equals an increase of almost 30% in comparison to Q1 and sales are also likely to increase by around 30%, which will translate into a net profit of over zł.41 million on revenues of about zł.331 million for the first six months of the year. Last year the numbers were zł.50.5 million and zł.366 million respectively. "The company is switching from low profit sales on the domestic market to higher earning exports," explained Kęty's president Dariusz Mańko. Today the company's supervisory board is going to discuss acquisition plans concerning three firms proposed by the management board. All entities are foreign companies, whose combined annual sales revenues amount to EUR 200 million. (Parkiet, p. 3) A.F.