Ster Projekt outlines plan to improve profitability in 2004

In 2004, the IT company Ster-Projekt plans to focus on improving its profitability. Its revenues should exceed zł. 400 million, while profits should top zł. 20 million compared to zł. 10 million in 2003. The improvement will come mostly from expanding the capital group with the addition of DRQ, "I hope that we should conclude the transaction by the end of the year and the firm should be included in our consolidated results for the first quarter of 2004," claims Piotr Smólski, president of Ster-Projekt. DRQ will be purchased from Grupa Onet for zł. 36.4 million and the transaction will be financed through a share issue. Ster-Projekt is awaiting a decision concerning the second phase of the Data Center contract for TPSA, which would provide revenues of zł. 100 million. "It should be made by Tuesday," said Smólski. In the first quarter of 2004, the company is planning two further acquisitions and, "In both cases we have already concluded due diligence and we are now negotiating the price of the transaction," admitted Ster-Projekt's president. (Parkiet, p. 3) M.M