News Parkiet

Banking

PKO BP to boost stake in PKO/Credit Suisse

Poland?s biggest lender, state-controlled PKO BP plans to increase its stake in PKO/Credit Suisse in order to boost sales of its mutual funds, sources close to the situation told PARKIET recently. PKO BP and Credit Suisse Asset Management now each own half of PKP/Credit Suisse. The group manages assets worth some 3.9 billion zloty and has 7.3 percent market share, down from nearly 20 percent at its peak in July 2003.

Information technology

ComputerLand cuts earnings forecast

Poland?s no. 2 information technology group ComputerLand said it expects profits of approximately 20 million zloty this year, much less than its previous boast that the company would double last year?s PLN 12.3 million. Warsaw-based group said in its first official forecast for 2005 it plans sales of some 800 million zloty, up 6.8 percent from last year. ComputerLand also said its order backlog totals more than 400 million zloty, or 123 million US dollars.

Information technology

PC Guard plunges 26 percent

Shares of PC Guard software house, a darling of local daytraders and one of WSE?s most volatile stocks in recent days, fell as much as 26 percent in very heavy trading yesterday, closing at 42 zloty. Some 311 000 shares representing 31 percent of outstanding stock changed hands. PC Guard traded as high as 74 zloty a share in early morning trading. The stock is up 700 percent higher than its IPO price of 6 zloty a share.

Information technology

ABG Ster-Projekt sells stake in NTI

Information technology provider ABG Ster-Projekt said it has sold its stake in NTI, a small company that specializes in building LAN networks and wiring systems to its management and employees. ABG said it has received 6 million zloty from the sale of NTI.

Telecommunications

Internet Group to report another loss

Voice over IP carrier Internet Group is set to report another loss this year, company officials said yesterday. Tiny Warsaw-based company said they expect to lose another 0.4 million zloty on sales of PLN 10.5 million. Internet Group says it will finally turn profitable next year after launching several new VoIP products together with state-owned data carrier Exatel.

Telecommunications

Tell gains 9.25 pct. on IPO

Rights to shares of Tell mobile phone distributor gained 9.25 percent to 50.8 zloty at the start of the trading yesterday despite fears the stock might plunge because of this month?s decline of Polish equities. The stock closed at 48.5 zloty, up 4.3 percent from its IPO price of 46.5 zloty a share. Chief executive Rafał Stempniewicz said his company might boost its 3.2 million zloty earnings target in mid-November once sales of Orange brand mobile phone services pick up.

Tell is the 31st company to list its shares on the WSE this year.