NOM post unexpectedly high loss for 2002

The second largest long-distance telecom operator Niezależny Operator Międzystrefowy (NOM) has posted a 2002 loss of over zł. 31 million on sales of zł. 127.6 million, its minority shareholder PKN Orlen revealed in an annual report published on Friday. NOM's revenues plummeted to a mere zł. 17 million in the second half of 2002 from zł. 110 million in the first half of the year mainly due to the company's inability to negotiate settlement on billing and collection services with TPSA. Moreover, the dispute between the two telecom companies resulted in a several month delay in payments by NOM customers, which in turn added to the increase in the operator's alternative bad debt ratios. NOM is owned in 65% by the National Grid (PSE), while the remainder of shares are in the hands of PKN Orlen (Parkiet, p. 3) J.K.