Nitrogen producer says buoyancy will help stock exchange flotation

The company wants primarily to boost its production capacity because of rising demand for fertilizers over the past few years and increasing prices. Puławy has earned zł.151.6 million net profit over the past three quarters, which is a 70% hike in relation to the same period last year. Revenues from sales went up by 18% reaching zł.1.4 billion, whereas the operational profit with amortization amounted to zł.311 million, 25% better than in the same period last year. The company spokesman Marcin Buczkowski told a press conference yesterday: "Puławy have paid back all liabilities and its financial condition is good enough to pay the suppliers regularly." He added: "We are ready for a flotation in June, but the final decision on the date will be made by the Treasury, which is the major shareholder." (Parkiet p.3) M.G.