Praterm budgets zł.300 million to fulfill its 2006 plans

"In addition we may raise around zł.160 million from loans," declared Praterm's president Edward Kowalewski. The company is considering acquiring heating plant EC Tychy and Megawatt which are to be privatized. Kowalewski stated he hoped that at least one of the transactions would be completed this year. Apart from acquisitions, Praterm will spend zł.20 million on buying the shares of its subsidiaries. The company does not plan to pay out any dividend within the next several years. "At the moment we want to expand the group and we will spend the generated profits on this purpose. Our largest shareholders accept that and will wait two or three more years for dividends," stated Kowalewski. Praterm will also invest around zł.40 million to modernize its heating networks. In 2006 the company plans to generate a net profit of zł.15 million which is 12% more than in 2005. Revenues are to increase by 11% and amount to zł.151.7 million. (Puls Biznesu, p. 15) E.B.