Teta forecasts healthy profits for 2005 and plans acquisitions in 2006

"We are still working on the report for the last quarter and due to this I cannot reveal any figures. I can assure you that the company fully executed its plan for 2005," said Jerzy Krawczyk, president of Teta. In comparison to 2004, turnover was 7.2% higher, while net profit increased by almost 30%. According to the company's president, in 2006 Teta plans to maintain net profit growth, while its revenues should increase by at least over ten percent, which is the anticipated increase of the ERP market. The company is considering acquisitions of ERP producers to the south of Poland and final decisions should be expected within at least two months. The anticipated purchases will not exceed much more than zł.10 million złoty and they will be financed from the company's own capital and bank loans. (Parkiet, p. 6) M.M.