Rising revenues, but Q1 profit down for Polkomtel

Mobile phone company Polkomtel said its first quarter net profit was zł. 83 million, down from zł. 188 million a year earlier, due to higher amortizati on costs and currency weakness. A group of Polish shareholders, including o il refiner PKN Orlen and copper miner KGHM, have said they want to sell the ir stakes (around 55%) in Polkomtel. Analysts have tipped Britain's Vodafon e, which holds about 20% of the company, as the most likely buyer. Denmark's TDC owns another 20%. Polkomtel said revenue rose 9% to zł. 1.2 billion, wh ile operating profit fell 16% to zł. 255 million, squeezed by higher costs of attracting and keeping clients, and pre-tax profit stood at zł. 120 mill ion. A PKN official confirmed that Vodafone and TDC have pre-emptive rights to buy the shares, but said the Polish shareholders were in no hurry to sel ls their stakes. (Puls Biznesu, p. 6) A.Z.