Weakened złoty will not affect Novita's annual forecast

The company is planning profits of zł.4.6 million this year. In the first quarter of 2005 the company finished with a zł.0.2 million surplus. The result for the first quarter of this year will be known in a few weeks when it publishes its quarterly report. "The results will largely be in line with forecasts ," informed the president Marek Górny. "We are not going back on our annual forecasts," he went on to say. The company president did admit, however, that March's weakening of the złoty may have an impact on results (Novita pays interest on loans in foreign currencies). "In the whole quarter we lost about zł.0.5 million because of that," he says. "The annual forecasts are not threatened though, because in April the złoty recovered and we made up for the losses," assures Górny. (Parkiet 24 April p.3) S.D.