Inter Cars expects to exceed PLN 3.4 b in revenues for 2013. The company believes the two-digit growth will continue in the second half of the year. It is also optimistic about the beginning of 2014 – said Krzysztof Oleksowicz – a member of the company’s management board and its majority shareholder.
"We expect to go over the PLN 3.4 b level in 2013. We believe that in the second half of the year the growth will continue at at least a two-digit level.” – said Oleksowicz. He added that “the beginning of 2014 should also be very good for Inter Cars.”
During the first half of the year Inter Cars generated revenues of PLN 1.63 b, compared to last year’s 1.42 b. In 2012 the company generated PLN 3 b in revenues.
The company’s representatives have informed that the good results for the first half of the year result partly from optimistic attitudes among consumers, and partly from the problems of its main domestic competitor – Fota -- , which filed for bankruptcy at the end of June.
"The situation of our rival has been affecting the margins – Fota has been selling out its products with big discounts. The good news is that they are running out of stock, so the sell-out will not last much longer” – said Oleksowicz. He also confirmed that Inter Cars’s domestic margins would increase later this year. Inter cars also expects its foreign subsidiaries to increase their profitability, mainly as a result of decreasing costs of logistics.
In the second half of the year, the group plans to add 16 new branches to the already existing 279.
On Wednesday, before the trading session, Inter Cars announced its results for Q2. The company’s net result was PLN 40 m and turned out to be 7% lower than expected, but 67% higher than last year. The operating profit reached PLN 53.7 m, compared to 57.1 m consensus, and PLN 37.3 m in the previous year. The company’s yty revenues increased by 25%, to PLN 943 m and proved 1.8% higher than expected.
source: biznes.interia.pl
28-08-13