Group Management
PSW Holding SA (SGP Holding) signed Dec. 14, 2010, the previously announced contract for the purchase of coal imported from Russia. The company raised profit forecast for 2010.
The contract value was fixed for a minimum of USD 37 million (about 110 million zł)
a maximum of 50 million USD (about 149 mln zł). PSW Holding Management expects to achieve net margin of the signed contract at 8%. "We are very pleased to finalize talks with the Russian partner. We thus hope to launch a sustainable business relations with Russia '- said Piotr Krawczyk, Managing Director, PSW Holding.
PSW Holding raised profit forecasts for 2010. In a report of 1 March 2010, planned:
revenues from sales of 148 mln zł,
net profit of 7.3 mln zł.
Now, after the correction, PSW Holding expects to achieve:
sales revenues of 150 mln zł,
net profit at 15 mln zł.
decision on the revised Results were taken after summarizing the performance of the company after three quarters of 2010 and the month of October and November 2010. Another factor which there are good prospects for development PSW Holding. With the same core business (wholesale trafficking opałowymi) projected revenues amount to 150 million and net profit zł 9 mln zł. In addition, the PSW Holding will revalue the assets that is holding the House Capital Investment SA Platinum (Platinum Capital) which will be 6 million zł profit. The reason for the revaluation of assets is certainly faster development of Platinum Capital, than anticipated at the time of investment holding. At the time of investment was assumed that the Platinum Capital will invest in eight projects in 2010 and now already has 18 investment projects and further projects to commence in late December / January.
"We are very satisfied with the results for the past year. We hope that the information on the increase in the forecasts also appreciate our investors "- says Vladimir Krawczyk, CEO of PSW Holding. "Please note that the final estimate may change. A possible further changes will be reported on an ongoing basis "- adds President Krawczyk.
In connection with the strategy adopted by the Board, the Group PSW Holding SA in 2011, plans to increase coal imports due to higher net income derived from sales and better access to imported coal, domestic coal than.
addition, the Company intends to in the summer (April - September), and thus during a special "summer prices, to make increased purchases. The
, the Board decided to storage at that time about 30 thousand. tons of coal per month. This will afford greater margin, thereby increasing the company's net profit in 2011. "This will allow the use of holding stocks in periods of lower demand for heating materials offered by us" - says Piotr Krawczyk, Managing Director, PSW Holding.
