Weak dollar and strong euro boosts Grupa Kęty 2003 results

The enterprise closed the year with a profits up 48% to zł.70 million. Krzysztof Socha, an analyst with DM BZ WBK, welcomed the results, but a slight disappointment for him was the operating profits, which topped zł.85.55 million against expectations of zł.90 million. Analysts believe that the good results were mainly due to favorable changes on the forex market, as the firm purchases raw materials in US dollars and 20% of its sales are settled in euros. Company representatives also point at investments in modern production lines, which attracted new clients. (Puls Biznesu, pp. 1, 12) M.M.