Work in progress

The management of furniture producer Forte are confident that a strong H2 will make up for the year's early losses.

The firm saw H1 sales revenues hit zł.202.2 million, but the company registered a net loss of zł.8.6 million. This year's Q2 revenues increased by 16.2 percent on the same period last year, and the loss largely stems from increased investment spending.

The management forecasts that Q3 and Q4 revenues will grow by 20.2 and 29 percent respectively on last year, and the company will reach record profits. "We forecast that the sales for the whole year will amount to at least zł.482 million, and net profit won't be lower than zł.15 million," says the company's CEO, Maciej Formanowicz.

Forte has been investing in English, French, Spanish and German markets. In December last year, it opened a plant in Russia. The plant incurred a loss in H1, but the management is optimistic that it will start bringing profits at the end of Q3. The company stresses that exports have been rising and now amount to almost 70-percent of all sales revenues.