Things are slowly picking up for Elektromontaż Warszawa

Despite a very weak first quarter, construction company Elektromontaż Warszawa announced that revenues from sales in 2004 will be on a higher level than a year earlier. The supervisory board has also set itself a target to end 2004 in the black. The company is currently undergoing serious restructuring, which has already led to limiting a net loss to zł.500,000, while a year ago it amounted to zł.2.3 million. "We have reduced fixed costs by around 40% and cut employment from 420 to 198. Following consultations with employees we have also lowered wages by around 15%," said Henryk Dworzański, responsible for the company's finances, adding that Q3 and Q4 will bring profits which will cover the losses recorded in the beginning of this year. Company representatives also revealed that the enterprise has signed contracts which exceed its current potential. (Parkiet, p. 5) A.K.