News Parkiet

Banking

PKO BP's profit rises 27 percent on fee income

Bank PKO BP, Poland's biggest lender by assets said last year's profits rose 27 percent to PLN 1514 million as the bank boosted revenue from fees and commissions. The bank, which is minority-owned by the government since last October's hugely successful IPO, said it would pay as much as 40 percent of its profits as dividends.

Media

Agora reports higher profits, plans dividend payments

Agora SA, Poland's no. 2 newspaper publisher, reported fiscal 2004 sales that topped 1 billion zloty ($) for the first time ever. Full year earnings totaled 66.3 million zloty versus just 2 million in 2003. Agora said it plans to pay shareholders dividends of 0.5 zloty per share fir the first time ever. Based on yesterday's closing price of 61.5 zloty, dividend yield on the stock would total just 0.8 percent.

The group, best known for its flagship 'Gazeta Wyborcza' daily, said it expects 10 percent growth of the country's advertising market this year.

Textiles

Wólczanka to sell two clothing factories

Wólczanka apparel maker, a top Polish clothing brand, told PARKIET yesterday it plans to sell two out of three manufacturing plants it now owns. The company said it would focus on marketing instead, outsourcing production abroad and at home and expanding its retail distribution network. Best known for selling men's shirts, Wólczanka plans to open about 100 retail outlets by the end of 2005, up from around 90 stores planned in March.

Telecommunications

ATM may rise sales estimates

ATM SA telecom outsourcing group may lift its estimates for this year after topping last year's earnings and sales targets. Warsaw-based firm, which operates Atman fiber-optics network that covers most of the Polish capital, reported fiscal 2004 earnings of 8 million zloty, almost 50 percent more than its initial forecast. Sales totaled PLN 97.8 million, about four percent higher than ATM's plans.