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Polan:Wólczanka clothing predicts earnings growth despite Q2 loss |
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2004-8-27
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Lodz-based clothing producer Wólczanka intends to record zl 3 million in net profit at the end of the year, which seems a little over optimistic as the company closed Q2 zl 600,000 in the red.
Wólczanka President Rafal Bauer said, "We have launched very fierce restructuring process, which requires costs negatively influencing the result of the firm."
He added that the third quarter should be much better, but one should always expect extraordinary costs during restructuring possibly causing more harm to the results.
The company decided to emphasize higher turnover of stock and closing the least profitable plant in Lodz. Bauer says the sales network is being computerized.
"We are opening new outlets, seven in September 2004 and a few more by the end of the year," said Bauer. He also added that profit might still be close to zl 3 million in 2004.
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