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KHS Krosno: broker recommends “accumulate”

Polish brokerage house BDM PKO BP gave an “accumulate” recommendation for shares in the listed glassworks KHS Krosno SA in its latest report on 1 July 2004, BDM PKO BP said.
The brokerage house fixed…

Polish brokerage house BDM PKO BP gave an “accumulate” recommendation for shares in the listed glassworks KHS Krosno SA in its latest report on 1 July 2004, BDM PKO BP said. The brokerage house fixed a target price for KHS Krosno shares at PLN 140.9 (USD 38.3/EUR 31.1) per share. KHS Krosno generated a consolidated net profit of PLN 11 million (USD 3.0 million/EUR 2.4 million) on revenue of PLN 343 million (USD 93.3 million/EUR 75.8 million) for 2003. KHS Krosno aims to increase its consolidated net profit by 40% year-on-year and its revenue by 10% year-on-year for 2004. The company plans to allocate PLN 125 million (USD 34 million/EUR 27.6 million) for investments for the period 2004 – 2006. The company“s investment programme will be financed from profits in previous years and from bank loans.

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