Artur Kloczko, chairman of supervisory board of gave a few optimistic statements for the daily Puls Biznesu regarding current market situation and perspectives. Sales outlook is optimistic. The company currently during high season fully utilizes capacity in the Ukraine, Russia and in most of the production facilities in Poland. In Romania is concentrated on building distribution network. The market however is focusing on low end products. is planning to launch the second phase of the Ukrainian investment at the end of 1Q10. The outlook for company's operating result in 2Q09 is optimistic.
Our view:
Outlook for high capacity utilization is optimistic however summer is the seasonally best period of the year. Markets’ focus on low end products is not encouraging though and may weigh on profitability. We would expect recent positive sentiment towards stock to be maintained on the back of this article.