Poz-based Emax still expects to post profit despite Q1 loss

Piotr Kardach, Emax's president, explained that these bad Q1 financial results were the consequence of rising costs borne of initiating outsourcing projects for BZ WBK and GE Capital Bank, as well as increased spending on expansion abroad. Kardach assured the press that Emax will realize its financial forecast for 2004, which entails posting a net profit of zł.15.2 million. He added that Emax wants to double its export revenues, which in 2003 totaled zł.10 million. Emax currently operates on the Slovakian market and has expressed its interest in entering the markets of the Baltic States and Ukraine. (Parkiet, p.4) E.B.