News Parkiet

Corporate rankings

BSH, Polsat named 'most effective Polish

corporations'

Home appliance distributor BSH Sprzęt Gospodarstwa Domowego won the award 'Perły Polskiej Gospodarki' as the most effective company with sales of more than 1 billion zloty, at a ceremony during Economic Forum in Krynica this Friday. Telewizja Polsat, Poland's first all-national private TV station received the same award in 'sales between 1 billion and 100 million zloty' category. Both awards were presented by prime minister Marek Belka.

Privatization

Parliament may delay PKO BP's public offering

Polish parliament has adopted a new law that could delay planned Initial Public Offering of PKO BP, the country's largest bank, scheduled next month. The Sejm asked Polish government to put on hold sale of all state-owned assets until it presents a plan to privatize a dozen or so key companies deemed 'strategically important'.

Personal care products

Hygienika to cut earnings forecast

Hygienika SA, an independent maker of baby diapers and feminine hygiene products, warned investors it would cut this year's earnings forecast by 30 to 50 percent because of delayed private label contracts with two large supermarket chains. The company, which went public in June, said earlier it expects earnings of 3.1 million zloty on revenue of PLN 64.4 million.

New sales forecast may be lower by up to 30 percent, Hygienika said.

Hygienika stock fell 5.3 percent to a new all-time low of 11.6 zloty after the announcement.

Telecommunications

Poland to seek lower ISP fees

EU authorities could impose fines of up to 270.000 euros per day unless Poland raises its VAT tax on Internet access up to the standard rate of 22 percent. To offset higher taxes, Polish officials now say they will try to open up ISP market, which is dominated by Telekomunikacja Polska, Poland's main local phone company.