Paged sticks to Q4 profits forecast while expects loss from US subsidiary in 2006

The company is also sticking to its earlier financial forecast for Q4 2005 results, according to which sales revenues are expected to reach zł.310 million with net profits of zł.18.2 million. The forecast for 2006 includes the loss Paged is going to suffer from its brand new US-based subsidiary. "We believe we are going to lose zł.750.000 this year," stated Krzysztof Bukowski, Paged's CEO. Paged receives 60-65% of its revenues from abroad and 35-40% domestically. The company is still uncertain if its shareholders will get a dividend from Q4 2005 profits or if the firm will spend it in another way, for example by buying 24% of Paged Sklejka shares from the State Treasury (currently Paged holds 75% of Paged Sklejka shares). "It is up to our shareholders. They will make the decision on what we spend profits on," Krzysztof Bukowski pointed out. (Parkiet, pp. 7) K.J.