Tell's post IPO plans take longer than anticipated to fulfill

The zł.15.4 million which was raised from the floor was to be earmarked for acquisitions, but the company has not yet made any move towards such an undertaking. "We are working on these projects. We are in simultaneous talks with several candidates for take over," revealed Rafał Stempniewicz, the president of the Poznań-based company. The aim of these projects is to increase the number of the company's outlets from the current 153 to 250 by the end of 2006. "The will to sign the agreement is on both sides, but these are complicated processes. The negotiations comprise us, the second company, and the telecom operator," added Stempniewicz. He went on to say that the financial forecasts will be achieved this year without the need of any acquisitions. These foresee revenues of almost zł.120 million and a net profit increase almost threefold to zł.3.2 million. (Puls Biznesu, pp. 1, 12) A.K.