Sweet news, but bitter reaction over Jutrzenka's Q2 result

Confectionery producer Jutrzenka posted a Q2 net profit of zł.640,000, which is over six times more than a year earlier. However, the news was not enough to halt its share price falling by 5% on Wednesday. "The results are good. I do not understand this reaction. Maybe investors are discounting profits from recent increases in share prices," said company president Jan Kolański. At the first half of the year, the firm posted a zł.3.79 million net profit, which is 87% more than a year earlier. "I don’t think that we would have a problem with repeating last year earnings result [zł.5.6 million]. The net profit should be even higher," declared Kolański. He added that his company would operate at its most efficient if it could secure revenues of zł.300 million, but finding a good take over target is difficult. (Puls Biznesu, p. 8) M.M.