Polkomtel's net profits higher than expected in 2003

Analysts of the telecom sector expected this figure to stand at about zł. 630 million, which is a good result especially, bearing in mind that, according to analysts "Q4 is usually worse for Polkomtel." Radosław Solan, BDM PKO BP analyst, believes that this should have a positive effect on share prices. "There is no doubt that shareholders, especially Polish ones, will be willing to pay out dividends as high as possible. Vodafone and TDC may have mixed feelings about such a move," commented Solan. Michał Marczak from BRE believes that the financial state of Polkomtel is fairly sound and that the company could afford paying out a large dividend unless, "The company decides to invest in UMTS later this year." According to some sources, Polkomtel plans to spend zł. 950 million on investments in 2004. (Puls Biznesu, pp. 1, 4) M.M.