News Parkiet

Information Technology

Prokom to regain investor's confidence

Prokom Software IT services group expects to post lower net income for 2004 compared with previous years, the company's CEO Ryszard Krauze told PARKIET. Poor financial figures will largely result from the delays in executing major contracts signed with PZU, the largest Polish insurer, and Poczta Polska mail services company. Last year Prokom earned 106 million zloty and 73 million zloty in 2002. After three quarters of 2004 the company's net loss amounted to 11 milllion zloty. Krauze said Prokom hopes to lift profits next year as it has almost completed restructuring and has proceeded on the agreement with PZU. Prokom's shares, traded in March at 225 zloty, currently are quoted below 130 zloty.

Banks

PKO BP 3Q net rises 27 percent

PKO BP, Polish largest lender which completed a record initial public offering last week, said third quarter net profit jumped to 371 million zloty, up 27 percent from the year-earlier period. Net interest income increased 2 percent to 900 million zloty, the bank said. Analysts indicated the lender benefited from cost cuts and provisions as the revenue was weak. Shares of PKO BP fell as much as 2.4 percent to 24.1 zloty. The stock jumped 19.5 percent on its November 10 debut, after Poland raised 6.2 billion zloty by selling 38.5 percent of PKO BP in the nation's biggest ever IPO.