Profits prove more than Competent

Cryptography is proving very profitable for Comp. The group, which specializes in developing applications for code-making and breaking, saw its revenues jump 71 percent in Q3 2005, compared to the same period last year, and issued an additional one million shares. The company's net sales revenue reached zł.55.6 million, exceeding 2004's figure by some 42 percent. Operational profits rose from zł.1.6 million to zł.3.55 million, while net profits jumped over 68 percent, surpassing 2004's zł.3.2 million by zł.1.9 million to hit zł.5.1 million.

Comp has been active in Poland for 15 years, and became a joint-stock company in 1997. In 1998, TechLab 2000 joined the group after Comp bought out 30 percent of its shares. A year later a new subsidiary, PAComp, was created with Comp owning 80 percent of its shares. A few months later the group bought out 56 percent of RadComp's assets, a share that rose to 66.9 percent in the following years.

By the end of 1999 the Comp group included five different IT companies. Two years later the sixth company, Torn, joined the group, selling almost 60 percent of its assets to Comp. In January 2005 Comp debuted on the Warsaw Stock Exchange (WSE). The main group's branch investor is Prokom Software, whose stake in Comp comes to 23.97 percent.