The distributor of automotive spare parts managed to keep a two-digit increase of sales revenues in 1Q 2014.

Sales revenues of the Group in the last month went up by 30.2 percent year on year, up to PLN 320.3m. Nevertheless they did not make a big impression on investors. During listing session on Thursday, the share price of Inter Cars was around PLN 200, not much more than during previous exchange days.

- Positive information. March results show that the Company keeps a two-digit increase in sales revenues, a high 30% increase. The only market which recorded a fall in sales revenues in March was Ukraine (a decrease by 15.7 percent YoY). Within the whole 1Q 2014 the decrease on that market reached the level of 1.4%. Other markets are doing really well. The biggest sales dynamics in 1Q were recorded in Latvia, Bulgaria, Hungary and Romania – commented Tomasz Kania, analyst from BPS BH. 

The result is mainly thanks to increasing sales of distribution companies on domestic market, as well as in foreign daughters which are operating on several foreign markets of the region. Their sales revenue (outside Poland) for the period of between January and March went up by 29.8 percent in comparison to the same period a year ago. Domestic sales went up by 31.9 percent in the same period. Daughter companies in Latvia, Bulgaria, Hungary and Romania had the biggest increase of sales revenues. Among ten companies operating outside Poland, two – in Ukraine and in Italy – recorded a single-digit decrease of sales revenues. In the first quarter the total sales revenues of the whole Capital Group went up by 26.3 percent, to PLN 850.9m.

In the whole 2013 the sales revenues of the whole Capital Group reached the level of PLN 3.5bn, from PLN 3bn a year ago.

source: www.parkiet.com
10-04-2014
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