MCI optimistic of high profits as share price soars

MCI Management (MCI) is looking forward to higher profits this year as the financial situation in most companies in its investment portfolio is i mproving. The company's shares have gone up by 70% since the beginning of this year, but investor's fears of an influx of employees' shares on the market may block any further rise. "MCI Management's consolidated profit in 2003 will, without any doubt, be better than in 2002," announced company chairman Tomasz Czechowicz. However; he would not reveal whether the company would return to the black this year. Last year, MCI's sales reached zł. 37.2 million, but the company closed the year over zł. 16 million in the red, mainly due to the over-evaluation of its portfolio. After Q1 of this year, MCI's portfolio contained 11 companies of which five produced profits. (Parkiet, p. 4) J.K.