In Brief: ITI Holdings; LOT profits; PKN drops prices; Optimus investments
ITI Holdings, one of Poland's largest media groups, earned $175 million in
total sales last year, which marks a 15% increase compared with 1998
figures. The company's gross profit reached $44.2 million. (Puls Biznesu,
page 9) ... LOT Polish Airlines earned zl. 3.5 million in net profit last
year on zl. 2.64 billion in revenues, an increase in net profit of zl. 1.6
million over 1998. (Prawo i Gospodarka, page 3) ... Polski Koncern Naftowy
(PKN) will today lower the wholesale price of gasoline by zl. 30 - zl. 40 a
tonne, which means zl. 0.03 - zl. 0.04 a liter at the pumps. Unleaded
gasoline will now cost under zl. 3 and diesel below zl. 2.3. (Gazeta
Wyborcza, page 25) .... A new investor acquiring a controlling stake in
Optimus S.A. from current majority shareholders Bank Rozwoju Eksportu (BRE)
and Zbigniew Jakubas will appear within six months. The company is planning
to invest $50 million on its internet expansion from funds earned from
selling off real estate assets. (Rzeczpospolita, page B3) P.S.
