In Brief: Grupa Allianz profit up 50%; Telefonia Dialog; PKN Orlen-MOL
Insurer Grupa Allianz has collected zł. 753 million of contributions during the first nine months of the year, a figure 50% higher than during the same period in 2002. The company announced a net profit of zł. 26 million at the end of September, of which zł. 500,000 was the net profit of Allianz Życie, which for the first time managed to post a profit. (Puls Biznesu, p. 9) ... The second largest local phone operator, Telefonia Dialog, announced that its Q3 operating revenues were higher than its revenues in the first six months of the year, and amounted to around zł. 17 million. Company representatives also announced the concern plans to invest zł. 100 million of own funds, next year on further development. (Parkiet, p. 5) ... Representatives of the State Treasury and the Hungarian Finance Ministry responsible for privatization were in talks yesterday concerning the potential creation of an oil concern with the shares of PKN Orlen and MOL. According to unofficial information, during next week's visit of Hungarian Prime Minister to Poland, an initial agreement on the plan could be signed. (Parkiet, p. 5) A.K. In Brief: Chopin vodka will not be challenged; Media Markt; Poor Q3 for The National Fryderyk Chopin Institute announced plans to withdraw from its request to study the validity and legality of the registration of the vodka brand name Chopin. The final decision on this was taken by Culture Minister, Waldemar Dąbrowski. (Puls Biznesu, p. 6) ... Media Markt, a network of HI-FI and white goods stores, announced plans to double the number of outlets it had said it would open. "We initially envisaged 20 of Media Markt stores in Poland. Currently we plan to expand our network to around 40 stores within five years," said Jarosław Drabarek, director general of Media Markt. (Puls Biznesu, p. 8) ... Fabryka Mebli Forte has recorded a net profit of zł. 4.59 million in the third quarter, as compared to zł. 7.92 million during the same period in 2002. The fall in profit was partly due the reorganization of production. The rising value of Euro, which boosted the value of the company's exports was however, not enough. The news sent its shares down by 6.5% yesterday on the Warsaw Stock Exchange. (Puls Biznesu, p. 13) A.K.
