TIM reports big revenue increases for 2016

Logistics company TIM increased its revenues by 14.9 percent in December, y/y, according to a press release from the company on Wednesday. Meanwhile, cumulative revenues for the entire year of 2016 reached PLN 619.9 million, an increase of 15.9 percent. “2016 was a time of stabilization for [the company’s] new business model,” said Artur Piekarczyk, a TIM board member. “We could focus on gaining new clients for which e-commerce is their first choice. ... It all resulted in the highest in almost 30-year history of the company's turnover and allows an optimistic look for 2017,” he added. The company noted that sales from its e-commerce component in 2016 had reached PLN 403 million, a 21.4 percent increase. The Wrocław-based company emphasized that its gains were made against general economic declines in related sectors. It pointed out that, according to data from the Central Statistical Office (GUS), in December 2016, the decline in construction output was 8 percent, y/y. TIM S.A. has been quoted on the Warsaw Stock Exchange since 1998.