In Brief 2: Pekao SA profits; MCI's travelplanet.pl; BPH under pressure

During the whole of last year, the company generated zł. 919.1 million in net profits which is an increase by 19.4% as compared to 2002. However, comparing the fourth quarters of the two consecutive years, the net result fell by 50%. (Puls Biznesu, p. 11) ... MCI Management, a venture capital fund specializing in investing in high risk IT companies, announced plans to spend between zł.20-40 million during this and the next year on new projects. Company representatives also disclosed that they are planning to publicly list their Internet-based travel agency travelplanet.pl. The value of the issue is estimated at zł.20 million, which is to be used on expansion into foreign markets. (Puls Biznesu, p. 13) ... Bank Austria Creditanstalt, the main shareholder in bank BPH, is putting pressure on its subsidiary to effectively lower its operating costs. Austria's media suggest that a significant reduction in BPH's employment is being taken into account. (Parkiet, p. 6) A.K.