The distributor of automotive spare parts increases its sales revenues on a monthly basis. In March, the only factor which slowed the increase down, was the Ukrainian market, where sales revenues went down by almost 16%. Sales revenues of Capital Group for the first quarter went up by 26 percent in comparison to last year.

Inter Cars does not slow down. In March the company generated sales revenue of PLN 282.1m, an increase of 31.1 percent yoy. The result of first quarter was 28.6 percent better and went up to PLN 749.7m. Sales revenues of distribution companies of the Group went up by 30.2 and 26.6 percent respectively, generating sales revenues of PLN 850.9m. in the first three months. In March, the fastest growing daughter company of Inter Cars SA was the one operating in Latvia (+167.1 percent) and in Bulgaria (+86.2 percent). Ukrainian market was still ailing (-15.7 percent). Not long ago Inter Cars became a part of model investment portfolio of Raiffeisen Bank Poland BH for April. As a justification the House said that the distributor of automotive spare parts records high sales dynamics and additionally in the first quarter of this year the sales is supported by much better weather than in 2013. According to the brokerage house the sales dynamics are supposed to be a bit lower in the second half of the year. - The company wants to keep developing on foreign markets, where growth dynamics (on average 26 percent in 2013) are higher than in Poland (on average 18 percent in 2013). In order to keep the pace of development Inter Cars plans to increase investment in logistics. They are supposed to double the storing area within one year. - estimates the brokerage house.

One month ago the Board of Managers of the company recommended paying out a dividend for the year 2013, amounting to PLN 0.70 per share. This means return rate of 0.4 percent. As a justification of the decision company announced that the level of dividend was shaped by investment planned to be performed in Warehousing-Logistic Centre. The total cost of investment is PLN 155m, and PLN 120m will be spent on this investment between 2014 to 2015. The aim of this investment is to build a new logistic centre (central warehouse) located in Zakroczym. Last year the Group generated net profit of PLN 147.8m, up by 47 percent. Sales revenues went up to PLN 3.52bn from PLN 3bn a year ago. Shares went up by 5 percent this year. Last year shareholders of Inter Cars SA gained on the shares more than 120 percent. The Company has been listed on Warsaw Stock Exchange for 10 years and since then the share price went up by 740 percent.

source: www.stockwatch.pl
10-04-2014
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