News Parkiet

Bookstores

Empik may buy Matras bookstore chain,

sources say

Popular multimedia and bookstore chain Empik may buy privately held book retailer Matras Sp. z.o.o. industry sources told PARKIET recently. Empik, a part of the publicly traded NFI Empik Media Fashion retail chain operator wouldn't comment on the rumors. The two firms have a combined 30 to 40 percent market share. NFI EMF multimedia division reported fiscal 2004 sales of 522 million zloty. Grupa Matras, which operates nearly 240 smaller bookstores sold over 150 million zloty worth of books last year.

Entertainment

Cinema City may try to sell shares once again

Movie theater operator Cinema City International has joined Polish KDPW clearing house, signaling that it may seek once again to list its shares on the Warsaw Stock Exchange. An Israeli company based in the Netherlands, Cinema City has already tried once to sell shares to the public, but the IPO was pulled at the last minute because not enough investors signed up to buy the stock. Instead, CCI has raised the funds needed to open new multiplex movie theaters in Poland getting a bank loan from BZ WBK. Chief financial officer Israel Greidinger told PARKIET investors may expect an announcement on CCI's future plans within a month.

Chemicals

Police gains 2.9 pct. on IPO

Shares of Zakłady Chemiczne Police fertilizer plant rose 2.9 percent to 10.6 zloty at the start of the trading yesterday. State-owned company sold 15 million shares at 10.3 zloty each in a 155 million zloty IPO in late June.

Metals

Śrubex cuts earnings forecast

Shares of fastening components manufacturer Śrubex SA plunged 7.07 percent to a new all-time low of just 34.2 zloty yesterday after the company cut in half this year's earnings estimate, blaming lower prices and sluggish demand from automotive and engineering industry customers. The company said it now expects earnings of just 5.2 million zloty versus initial estimates of PLN 11.5 to 12.5 million. Śrubex went public in February at 50 zloty a share.

Power industry

Rafako to receive back payments from ZE PAK

Power industry contractor Rafako SA is expecting millions of zlotys in back payments from Zespół Elektrowni Pątnów-Adamów-Konin power plant within days, possibly as early as today, sources close to the situation told PARKIET on Thursday. The company is negotiating 300-million zloty contract to build sulfur removal system for another power plant, vice-CEO Jerzy Tham said.

Retailing

Redan 1H sales up, company says

Casual clothing retailer Redan SA sold an estimated 54 million zloty worth of clothing items through its retail chains in the six months to July. The number of Troll, Top Secret and Textil Market retail outlets managed by Łódź-based textile firm rose to 192 from 142 stores in January. Margins were 'several percentage points higher than last year', chief executive Piotr Kulawiński said.