Rafako set for major cash injection and tender success

"We expect a decision at the beginning of August at the latest," revealed Rafako's deputy president, Jerzy Tham. Rafako is also participating in a similar tender for the Rybnik power plant that will be finalized in September. Meanwhile, the company is to receive overdue payments for works at the Pątnów II power plant. The payments, which will amount to several tens of millions of złoty, are to be made today or at the beginning of next week. The company closed Q1 this year with a consolidated net profit of zł.3 million in comparison with a loss of zł.2.6 million in the same period last year. Revenues increased by 60% and exceeded zł.104 million. According to Rafako's president, Mariusz Różański, it is possible that the company's revenues in 2005 will exceed zł.0.5 billion as compared to zł.280 million in 2004. (Parkiet, p. 3) E.B.