PKP IC on route to success and IPO

After four months of the current year its profit amounted to zł.15.1 million, while over the same period last year the company was zł.5.8 million in the red. "We transported ca. 350,000 passengers more than last year, which boosted our revenues by zł.30 million," said Czesław Warsewicz, president of PKP IC. He went on to say that the 2007 profit of the rail carrier would exceed zł.50 million, as compared to zł.34.8 million in 2006. The proceeds will be urgently needed by the firm, as it hopes to soon launch a five-year investment program which will cost zł.2.5 billion. "The firm is in good financial condition and it can easily apply for external sources of financing," said Warsewicz. The Transport Ministry confirmed that the firm would be floated on the Warsaw bourse by 2009. (Puls Biznesu, pp. 1, 7) M.M.