Talex chases Finance Ministry contract to maintain Q1 performance

IT hardware vendor Talex posted zł. 26.7 million in sales for Q1 2003 while its net profit in the same period was zł. 2.6 million, 60% up on the Q1 2002 figure. However, the firm is unlikely to repeat this performance in the next three quarters unless it secures a zł. 70 million contract for the delivery of computers to the Finance Ministry. According to anonymous sources, Talex is the favorite in the race for the contract. The company's positive result comes from a contract signed with BZ WBK in 2001 under which Talex supplied the bank with IT equipment for three years, worth a total of zł. 110 million. The BZ WBK contracts currently account for 80% of all Talex's revenues but the company plans to reduce this figure to 50% by the end of 2004. (Parkiet, p. 5) J.K.