Feb 09, 2005. Polish paper and pulp manufacturer Frantschach Swiecie SA increased its 2004 net profit by 110.1% year-on-year to 310.1 mln Polish zloty ($99.1 mln/77.7 mln euro), the company said.
Polish Frantschach Swiecie 2004 net profit up 110.1% year-on-year
Feb 09, 2005. /Lesprom Network/. Polish paper and pulp manufacturer Frantschach Swiecie SA increased its 2004 net profit by 110.1% year-on-year to 310.1 mln Polish zloty ($99.1 mln/77.7 mln euro), the company said.
The company boosted its sales revenue to 1.3 bln zloty ($415.7 mln/325.7 mln euro) for 2004, from 1.28 bln zloty ($409.4 mln/320.7 mln euro) for 2003.
Swiecie-based Frantschach Swiecie annually produces 737,000 tonnes of paper. It is a unit of South Africa-based paper making group Mondi.
On January 6, 2005, the shareholders of Frantschach Swiecie approved to change the company's name to Mondi Packaging Paper Swiecie SA.
Polish brokerage house DM BZ WBK gave a "hold" recommendation for the shares of Frantschach Swiecie in its latest report on January 31, 2005. The target price for the company's shares was fixed at 55.7 zloty ($17.8/14 euro).
