Lentex Q3 good results a prelude of better things still to come

Lentex, a leading producer of PVC, confirmed that the third quarter was very good for the company, as its net profits topped zł. 4 million on revenues of almost zł. 50 million. This is a good result, as its global 2002 profit stood at just zł. 4.5 million. "We estimate that our 2003 net profit should reach about zł. 6 million. The figures should improve even further next year," said company president Tomasz Towpik. The details of the profit projections will be known after the company presents its 2004 annual plan. However, it is already known that falling labor costs may boost profits by about zł. 5 million next year. "We have market potential, but we have to decide on how to use it. We can spend about zł. 20 million from our own capital on development, which can be further backed by loans of up to zł. 40 million thanks to our lack of long-term liabilities," said Towpik. One plank of the new strategy may involve modernizing and increasing the capacity of production lines. (Parkiet, p. 4) M.M.