Thumbs up for Teta

WSE-listed IT company Teta reported zł.4.4 million in net profits and zł.42 million in revenues in 2005, surpassing 2004's bold financial forecast. Predictions for 2006 go even further as the company believes its net profits may reach zł.6.2 million.

In 2005 the bourse valued the company at over zł.100 million. Compared to 2004, Teta's product sales increased by nine percent, profits gained on post-sales services went up by 11 percent, and the value of licenses sold increased by 30 percent.

On the basis of an analysis of the Polish ERP market by IT research company IDC, Teta's 2006 forecast claims it might improve by 15 percent year-on-year. (Reuters)