News Parkiet

Manufacturing

nkt cables sees profits on unit sale

Poland's no. 2 industrial cable manufacturer nkt cables, a subsidiary of Denmark's NKT cables A/S, says it expects 20 million zloty in profits from the sale of enameled wire business to a Swedish company earlier this year. Publicly traded nkt sold its wholly owned unit nkt cables sp. z.o.o. to Elektrokoppar Svenska in April for an estimated 28.5 million zloty. The unit accounted for just over a third of nkt cables' overall sales in fiscal 2004.

nkt cables itself lost 1.65 million zloty on lower sales in the first quarter of 2005 because of lower domestic demand, bad weather that delayed some construction projects and rising copper prices.

Textiles

Bytom shareholders to say 'yes' to equity increase

Shareholders of men's suit maker Bytom SA are likely to say 'yes' to yet another stock sale planned later this year in a key vote scheduled for today. Bytom, once one of Poland's best known clothing brands, plans to sell as many as 550 000 shares in an offering scheduled tentatively for early July. The company fell short selling the same number of shares in a semi-successful stock sale a few weeks ago.

Chief executive Tomasz Sarapata, himself a major shareholder says Bytom posted surprisingly strong results after five months of this year. The company reported first-quarter loss of 0.6 million zloty on sales of PLN 8.3 million.

At least one institutional shareholder has already offered to buy a number of shares, Sarapata told PARKIET last week.