Impelled to slash its subsidies
Grupa Impel, the largest Polish group providing outsourcing services for enterprises, has finished the first quarter of 2005 with an income of zł.148.65 million and a net profit of zł.4.38 million. The results mark a 14 percent increase in income, but a decrease in profit by zł.243,000 on the same period last year.
However, the company has significantly reduced the amount it receives from the government, from zł.19.02 million after Q1 of 2004 to zł.13.48 million at the end of March 2005. Subsidies are currently worth 9.1 percent of sales income while last year the ratio was 14.3 percent. "We are becoming independent of subsidies, we are generating profits and maintaining the optimum employment level, also among the physically disabled," said the vice president of the management board, Sławomir Borkowski.
In 2005 Grupa Impel expects its income to reach zł.630 million (zł.61 million more than in 2004) and net profit of around zł.17 million. The company still receives subsidies for employing the physically disabled, but vice-president of Impel SA, Edward Laufer, said: "We are planning to decrease the subsidies' share in the company's income."
However, the company has significantly reduced the amount it receives from the government, from zł.19.02 million after Q1 of 2004 to zł.13.48 million at the end of March 2005. Subsidies are currently worth 9.1 percent of sales income while last year the ratio was 14.3 percent. "We are becoming independent of subsidies, we are generating profits and maintaining the optimum employment level, also among the physically disabled," said the vice president of the management board, Sławomir Borkowski.
In 2005 Grupa Impel expects its income to reach zł.630 million (zł.61 million more than in 2004) and net profit of around zł.17 million. The company still receives subsidies for employing the physically disabled, but vice-president of Impel SA, Edward Laufer, said: "We are planning to decrease the subsidies' share in the company's income."
