New strategy of financially troubled Apexim fails to connect with investors

The new Apexim president Zbigniew Mikusek hopes his new strategy will restore splendor to the company. Apexim, one of the largest integrators of IT systems on the Polish market is in financial trouble at the moment. Sales revenues are 20-25% lower than last year and after the first half this year it has mounted zl. 10 million in losses. The new strategy envisages cutting employment by 40% and reducing and strictly controlling expenses. Apexim is to specialize in offering IT systems for such branches as medicine, insurance and telecommunications and plans to reduce its activity in equipment trading. The new specialization of Apexim will be connected with taking over a few smaller IT companies. Mikusek says some acquisition negotiations have been conducted. However investors do not seem very enthusiastic about the plan. Apexim's share price on the Warsaw Stock Exchange (WSE) remains unchanged. (Gazeta Wyborcza, page 22)