Grupa W.Kruk reports unexpected losses in 2003

"We have been on the WSE for a year and a half and so far we have not reached any of our forecasts. Investors expect us to limit the risk," said Jan Rosochowicz, president of W.Kruk. The main reason for the company's problems is clothing company Deni Cler, which posted a zł.4.6 million loss against the projected zł.1.5 million profit. This result was due to poorly chosen spring collection and drastic drop in margins. W.Kruk has decided to sell the company and to limit Cler's overall costs by zł.4 million. W.Kruk will focus on its core business of selling jewelry. (Puls Biznesu, pp. 1, 10) M.M.