Kruk mulls entry into Turkish, Spanish and German markets
Kruk, a debt collection firm, wants to expand into a new market in the second half of this year. The firm is currently analyzing the Turkish, Spanish and German markets. The company also hopes for double-digit growth this year.
“On the new market, we are rather going to build our organization from scratch. It is a longer process but one which guarantees that we will be able to fully realize our business vision, which is to focus on arbitrary methods,” said Piotr Krupa, head of Kruk.
“In practice, most of the firms we analyzed as potential acquisitions had a confrontational approach to the debtor and immediately threatened legal action,” he added.
In 2013, the firm registered a profit of PLN 97.8 million, a 20-percent increase year-on-year. Analysts expect the firm to make PLN107.7 million this year.
