Stalprofil to debut on Warsaw Stock Exchange: Rising share price expected

Shares in Silesia-based iron and steel products retailer Stalprofil, which debuts on the Warsaw Stock Exchange (WSE) today, are expected to trade higher than their initial offering price of zl. 11 per share. The value of Stalprofil shares may top the issue price by 40%, believes Agnieszka Talarek, analyst at DM BOS market analysis office. The expected rise in share price is being influenced by the substantial improvement of Stalprofil's financial results for the first quarter of 2000. Stalprofil recorded zl. 77.2 million in sales and zl. 1.2 million in net profit for the first quarter of this year, a growth of 86.5% and 83.3% respectively in comparison with the same period last year. The company is expecting further growth in the forthcoming months which will lead to an increase in dividends, based on 20% of net profits. However, some analysts point out that a difficult situation in Poland's steel sector combined with growing competition may bring temporary difficulties for the company's ambitious restructuring plans. (Puls Biznesu, page 6) P.S.