Inter Cars 2004 net profit soars 100% thanks to flood of used car imports

Its Q4 turnover rose in relation to 2003 by 30% and amounted to zł.160.2 million, becoming a record-breaking quarter as regards sales. The company's rising turnover is the result of the flood of used car imports, which in turn increased demand for spare parts, and the development of its distribution network to 45 outlets. Although Inter Cars exceeded its net profit and revenue projections, the 2004 operational profit turned out to be actually lower than in 2003 by zł.4.5 million and amounted to zł.22.3 million, which the company put down to currency fluctuations. (Parkiet p. 5) M.G.