Tough road for Pekaes
The Pekaes group - made up of six companies offering services ranging from transport, shipping and logistics to car service and distribution - had a sales income of zł.100.9 million and a net loss of zł.60,000 in the first three months of this year. Those figures represent a significant fall from the results of the initial quarter of 2004, when the holding's sales reached zł.134.2 million and it made a profit of zł.8 million.
The slump was mainly due to unfavorable trends in the transport, shipping and logistics (TSL) market, which, according to the group's statement, the companies of the holding ware unable to avoid. "Fees have fallen by as much as 30 percent. We must add to it rising fuel prices, the weakening of the euro and introducing the MAUT fee for trucks on German highways," says Ryszard Witek, a member of the management board at Pekaes. He also pointed out that Poland's accession to the EU resulted in incomes from customs services decreasing almost twofold. In Q1 of 2004 the results of Pekaes Bus, which was sold last August, was included in the consolidated result of the holding and that also contributed to the lower results.
The group implemented a savings program in the first quarter, which reduced management costs by five percent in comparison to the same period the previous year.
The slump was mainly due to unfavorable trends in the transport, shipping and logistics (TSL) market, which, according to the group's statement, the companies of the holding ware unable to avoid. "Fees have fallen by as much as 30 percent. We must add to it rising fuel prices, the weakening of the euro and introducing the MAUT fee for trucks on German highways," says Ryszard Witek, a member of the management board at Pekaes. He also pointed out that Poland's accession to the EU resulted in incomes from customs services decreasing almost twofold. In Q1 of 2004 the results of Pekaes Bus, which was sold last August, was included in the consolidated result of the holding and that also contributed to the lower results.
The group implemented a savings program in the first quarter, which reduced management costs by five percent in comparison to the same period the previous year.
