Ster Projekt looks to acquisitions to speed up growth

"This year we are planning a 20% increase in net profit. The share of revenues from software is to increase to over 37% in 2006," declared the ABG-Ster Projekt president Dariusz Brzeski. In 2005, software accounted for 20% of the company's revenues. The company wants to concentrate on profitable contracts for large customers, mainly from the public sector. In 2006, it intends to participate in several large tenders organized by state agencies and hopes to win a USD 20 million tender for the development of the IACS system in Romania. The integrator is also considering acquisitions. "We are aware of the fact that the organic growth is too slow. Therefore, we are watching the market for potential acquisitions," revealed Brzeski. Ster Projekt's board will recommend paying out 20% of its 2005 profit to shareholders. (Parkiet, p. 4; Puls Biznesu, p. 14) E.B.