Shares are discounting improvement of results

During Wednesday trading session the share price of Inter Cars, the biggest Polish distributor of spare parts for cars, recorded another all-time high price, getting close to PLN 200. Since the beginning of this month, shares of the Company have gone up by over 20%, and since the beginning of the year, by more than 130 per cent.

The increase is a result of growing expectations of investors regarding the publication of report for III quarter (results will be published on 14th November). The monthly data shows that Inter Cars will be possible to boast with a two-digit growth in sales in the finished quarter. - With a substantial sales dynamics there will be a positive effect of operating leverage, and this will be shown in the level of reported profits. All this is followed by a decrease in financial expenses caused by lower interest rates – lists Sylwia Jaśkiewicz, Brokerage House IDM analyst. She expects the net profit to be doubled in 3Q in comparison to the same period of 2012. The forecast regarding operating profit went up by 77% at increase of sales revenues of 19 per cent.

The whole year seems to be a record one as regards sales revenues and profits. For the first three quarters total revenue of Inter Cars went up by almost 16%, to PLN 2.53 billion. The Board expects to exceed the amount of PLN 3.4b of sales revenue this year. The result is thanks to increasing sales in foreign daughters which are operating on foreign markets of the region. Their sales revenue in the period between January to September went up by 26.2%, whereas domestic sales went up by 14.4%.

The forecast of Brokerage House IDMSA shows that in 2013 Inter Cars S.A. will work out PLN 146 million of net profit in comparison to 100 million a year ago. Operating profit is supposed to grow up to PLN 199 million from PLN 146 million in 2012, and sales revenue up to PLN 3.4 billion from PLN 3 billion a year ago.

source: Parkiet
Warsaw
31-10/03-11-2013
DZ. / No 254  back