TPSA expected to report 63% fall in 2001 profit after zl.377 million Q4 loss

Telecoms giant Telekomunikacja Polska (TPSA) is expected to show a group net profit of zl.486 million for last year, down 63% from 2000, when it releases its consolidated Polish Accounting Standards results this morning. Analysts predict the company will post a fourth quarter loss of zl.377 million, following a group net profit of zl.863 million in the first three quarters of last year. TPSA had already announced that in the fourth quarter it would create provisions amounting to zl.1 billion for layoffs and overdue re ceivables, but analysts fear more costs lie ahead. "At this stage investors are still reluctant to give the management the full benefit of the doubt, as already announced provisions may prove insufficient," said Anton Inshutin, analyst at Morgan Stanley & Co. in London. (Reuters)