Qumak-Sekom outgrows organic growth and looks for acquisitions

Some 78% of the company's capital belongs to NFI Magna Polonia. In 2004 the enterprise sold several of its subsidiaries and decided to concentrate on providing CRM and monitoring systems, as well as IT security systems. Its current revenues from these activities constitute about 30% of the firm's annual turnover. "We want to increase this share up to at least 40% next year," said Krzysztof Pyzik, Qumak-Sekom's president. The company's revenues in 2004 were zł.115 million on which it made a profit of zł.2.5 million. The plans for this year envisage increasing revenues to zł.120 million and posting a zł.3 million profit. "We cannot expand based on organic growth, so we decided to strengthen our market position through acquisitions. We are interested in medium size companies from our sector," said Pyzik. Presently Qumak-Sekom is looking to raise about zł.30 million for acquisitions. It is seriously considering debuting on the Warsaw Stock Exchange at the end of this year or at the beginning of 2006. (Parkiet, p. 4) A.F.