Strong złoty hits furniture producer Forte's QI net profit

"The deterioration in the result was planned," assured deputy president of the company Andrzej Korzeb. Over this period the firm was incurring losses on launching its new plant in Russia and commercial activities abroad, but it was also negatively affected by strong złoty, as almost 70% of the output is exported. The management of the company is pleased with the increment in revenues, which went up by 8% to reach zł.107 million. "Denomination [of sales] in Euro is more important to us, as then the growth would amount to even 13%," said Korzeb. Forte's plans for 2006 envisage boosting sales to over zł.500 million, while last year the figure stood at zł.405.3 million. "This is a safe forecast. We can achieve turnover above this figure without any effort," said Forte's president Maciej Formanowicz. (Parkiet, p. 4) M.M.