Great September for Inter Cars

Inter Cars Group in September recorded sales revenues at the level of PLN 345.6m, which means and increase by 13.1% YoY.

Sales of the parent company, Inter Cars, in September reached PLN 297.2m (an increase by +10.3% YtY), including in Poland PLN 210.9m (+10.9%). Sales revenues of foreign distribution companies reached PLN 110.1m (an increase by 31.8% YtY).

Cumulatively from the beginning of the year the sales revenues of the Group in distribution segment went up to PLN 2,809bn generating an increase by 10.7% in comparison to the same period a year ago.

- September sales revenues are great in the country and abroad. Cumulatively from the beginning of the year the sales in Poland grows faster than in our forecast (11% instead of 10% YtY), whilst abroad the sales growth is similar to reported (23%). As a result, our forecast for EBITDA for the 3rd quarter being on the level of PLN 80m, and net profit at PLN 55m seem to be not endangered - says Grzegorz Kujawski, analyst from BH Trigon.

The share price of the company is going up, even today by 3% - to the level of PLN 199.95.

Source: telegraf.biz

09/10/2014