UFT plans to become No.1 fruit trader following IPO

"We want to collect between zł.25-30 million from that share issue and spend it on financing acquisitions, investments and enhancing our turnover capital," said Marian Owerko, UFT president. The company's goal is to increase its share in the dried fruit market from the present 20% to 35%, mainly through acquisitions. The first takeover is to take place still before the IPO and will be financed with UFT's own capital and bank loans. The money raised from the share issue would be spent on taking over a large entity operating in the dried food sector. UFT expects to have 2005 revenues of zł.120 million (against zł.113 million in 2004) and a net profit of zł.5 million (zł.3.3 million in 2004). (Puls Biznesu, p. 12; Parkiet, p. 7) D.W.