The Management Board of Prima Moda S.A., after analyzing the financial data for the last quarter of 2007, informs that the forecast of financial results will change. The Management Board maintains the forecast regarding sales revenues, while the value of the forecast for operating profit will amount to PLN 1,850,000. The Management Board justifies the situation:
– by shifting the proceeds from EU co-financing to the first quarter of 2008, resulting from the subsequent completion of advisory
projects – a longer than expected period of achieving the assumed profitability for new locations
, related to the later date of launching newly opened stores – lower than expected gross margin on footwear sales, resulting from a reduction in prices in order to expand the target group of product recipients in accordance with the company's policy.
The Management Board of the company is convinced that the factors that contributed to the reduction of operating profit are temporary and relate only to 2007, and the company's development plans in the following years will be implemented at the assumed level.
|SIGNATURES OF PERSONS REPRESENTING THE COMPANY|
|2007-12-31||Dariusz Plesiak||President of the Management Board||Dariusz Plesiak|
|2007-12-31||Catherine Butwicka||Vice-President of the Management Board||Catherine Butwicka|