Softbank profits from 'maturity'

The Softbank group posted a Q1 net profit of zł.7.5 million, a rise of 157 percent compared to Q1 2005. The company's Q1 sales reached zł.102.7 million, compared to zł.95.5 million in the same period last year.

Krzysztof Korba, president of Softbank, sees the main reason for the improvement in the "organizational maturity" of the company. Piotr Jeleński adds that there is no individual factor that influenced the increase in profits. "A few fundamental changes within the company like consolidation, good budget implementation in terms of production and back-office costs affected profits. The effectiveness of realized projects also rose," he said.

The company is searching for new acquisitions and has EUR 50 (zł.192) million to spend. "We cannot say that the company wants to spend all the money on new acquisitions this year. We are carrying out talks with a number of companies but they may result in one, two or three deals. In terms of directions of the expansion, [we want to expand] towards the east and the south," said Jeleński.

Softbank's portfolio in 2006 is worth zł.347 million. The value for contracts for 2007 through 2010 amount to zł.583 million.