News Parkiet

Building materials

Opoczno?s executives to receive

at least 28 million zloty

Senior executives at Opoczno ceramic-tile maker may receive as much as 28 million zloty or more from the existing owner, a company co-owned by Credit Suisse First Boston and Enterprise Investors private equity fund, if it manages to sell its 99 percent stake in an upcoming 1 billion zloty IPO. Opoczno reportedly canceled an even more controversial plan for a ?success fee? payment by the company itself.

Information Technology

Softbank shareholders say ?yes? to new equity increase

Shareholders of Polish information technology group Softbank SA have agreed to a new stock sale yesterday after several days of backroom negotiations with the company?s main shareholder, Prokom Software IT group. However, size of the planned offering has been reduced from 8.4 to just 4.2 million shares. Softbank said it plans to use proceeds from next month?s offering to pay for several acquisitions, including the purchase of two IT firms from Prokom Software.

Retailing

NFI EMF to expand brand portfolio

Retail chain operator NFI Empik Media Fashion announced earlier this week its first-quarter loss has narrowed to less than 6 million zloty from PLN 13.2 million a year ago. Quarterly sales were up 6.1 percent to more than 252 million zloty. NFI EMF, which operates book, multimedia, clothing and toy store chains said it plans to open up to 50 new retail outlets this year. It also plans to launch several new brands, including Mexx clothing and accessories and Aldo-brand footwear.

Apparel industry

LPP optimistic despite lower 1Q margins

Top Polish clothing retailer LPP SA said its first quarter sales were up 39 percent to as much as 145 million zloty. Gross margins were down slightly because LPP?s ?Reserved? chain had to sell its winter and fall collections at a discount, but operating margins were up one percentage point to 3.8 percent. LPP, which has a sales target of PLN 750 million for all of 2005, said its earnings per share were up from 0.73 to 1.35 zloty.