Elektrotim: results expected to pick up in second half of 2010

2010-03-12

The company Elektrotim forecasts a dip in its financial results in H1 2010, but anticipates a significant improvement in the second six months of the year. The company plans to pay out a dividend for last year and its senior management is also not ruling out possible acquisitions, PAP reported.
In the opinion of the company's board, the first half of 2010 may be weaker because during this period it will carry out a number of contracts it won in 2009 and which offer lower margins. On the other hand, in Q3 and Q4 2010 Elektrotim expects to win new contracts and improve its margins, which in turn will boost its financial results for the current year as a whole. At the present time Elektrotim has orders in hand worth in total over PLN 70m (€17.9m). The company's senior management is likewise considering buying new equipment or acquiring a firm from the same branch and it is prepared to spend considerable sums on this aim. The company likewise intends to pay out a similar dividend to last year – in 2009 it paid out a dividend of PLN 0.6 (€0.15) per share.