Feerum will invest PLN 34 million during 2013-2014, as published in the IPO prospectus.
The strengthening of the production capacities is to absorb PLN 26.36mn in total, and investing in higher sales will consume PLN 3mn. Further investments are IT system, rebuilding of the examination and development department and building up the sale network in Poland and abroad.
In June, the company CEO Daniel Janusz told the ISBnews agency that Feerum was to spend on investments PLN 20mn by the end of the current year.
Feerum posted PLN 5.37mn of consolidated net profit in H1/2013 vs. PLN 3.32mn profit a year earlier, the company announced. The operating profit amounted to PLN 5.89mn vs. PLN 3.77mn in 2013 vs. PLN 19.39mn a year earlier. The standalone net profit was PLN 3.96mn in H1/2013 vs. PLN 3.32mn profit a year earlier.
Feerum is one of the biggest producers in Poland of complex grain elevators. The company debuted on the Warsaw bourse on May, 2013.
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