Polkomtel's revenues grow, net profits languish

After two quarters the company had revenues of zł.3.54 billion, which marks an increase of 18% over the corresponding period of the previous year, and posted a net profit of zł.506.84 million. In H1, the company's revenues amounted to zł.3 billion, while its net profit stood at zł.527.1 million. The value of a 19.61% stake in Polkomtel, held by KGHM, stands at zł.567.1 million. Polkomtel's results are similar to those expected and previously announced by the company. Jarosław Bauc, president of the firm, announced that, in terms of revenues, the first half of the year will see a more than twelve percent increase over last year, but the net result would remain at a level similar to last year. Stagnation at the net result level was justified by strong price competition, high value of investments and amortization. (Puls Biznesu, p.9) M.M.