Krosno SA (Krosnienskie Huty), the Polish glassmaker, has announced that it expects to earn Zl 10.9 million on sales of Zl 193.6 million in 1996.
The company said it planned no new share issue and w…
Krosno SA (Krosnienskie Huty), the Polish glassmaker, has announced that it expects to earn Zl 10.9 million on sales of Zl 193.6 million in 1996. The company said it planned no new share issue and wanted to earmark up to 20% of profit for dividends every year till 2000. It also said that its strategy for the next four years is to modernise its technology and to improve management. This year Krosno will spend Zl 16.4 million on modernisation. Krosno also announced its results for 1995. Net profit was up to Zl 8.01 million (against Zl 3.44 million in 1994), pre-tax profit stood at Zl 14.45 million (Zl 6.33 million) and sales increased to Zl 153.78 million (Zl 103.31 million). On 18 December 1996, the date of its EGM, Krosno SA“s biggest shareholders were: Arnhold & Bleichroeder (13.37% of votes), the state (10.36%), Bank BIG SA (9.49%), Pioneer (7.54%) and Bank Gdanski SA (6.28%).