Tax boost helps Softbank H1 profits but Korba promises even better second half

The profit increase was largely the result of a tax reimbursement of zł.11.3 million. The drop in sales worried some of the analysts. "If we put aside the tax reimbursement, the profit would amount to less than zł.5 million and it would be the figure the market had expected. The decrease in sales is a cause of concern but the structure of revenues changes for the better," commented one of the analysts. The company generates more revenues from banking activity, advisory activities, and the sale of software i.e. the products where the margins are the highest. According to Softbank's president Krzysztof Korba, the second half of the year will be better for the company than this first one. "The restructuring process at the company continues. Its first effects allow us to look with optimism on H1 this year," he declared. Sofbank plans to sign two or three contracts in the sector of risk management solutions and hopes to win several contracts to supply hardware for the banks at the end of the year. (Puls Biznesu, p. 8; Parkiet, p. 5) E.B.