On 22nd February 2010, the forecast of the consolidated net result of MCI management SA of the year 2010 was announced. The Board of MCI predicts the result in 2010 will amount to 67.0 million PLN.
The forecast assumes the growth of consolidated net result of MCI by over 57% to the result estimated in the year 2009 (42.5 million PLN). The fundamental components of the result in 2010 will be the increase of value of held investment assets and the revenues generated from managing funds. The forecast is based on the assumption that MCI Management SA Capital Group, at the end of 2010, will be managing assets worth over 545 million PLN (including the full investment commitment of funds managed at the beginning of this year).
The Board of MCI management SA will be making current assessments over the possibility to realize the above forecast at least once a quarter, presenting its stance in this respect in the published financial reports or current reports of the company.
âThe much better results accepted by us in 2010 are based on the assumption that the situation in the economy will not get worse; thanks to our work and direct engagement in and the value of the portfolio companies we are certain it will allow us to significantly increase the value of all our fundsâ â said Tomasz Czechowicz, President of MCI Management.
âIndependently of organic growth, we also plan to raise external capital intended for new investments which, in turn, will translate into increased revenues from asset management.â â added Czechowicz.
Also last year, thanks to successfully pursuing the priorities of the company, especially in the second half of 2009, and the more dynamic than predicted growth of the value of held assets, the forecasted results were definitely better that than those from the previous period. That constantly improving situation of MCIâs portfolio companies also had significant influence here. We expect this tendency to continue also in the year 2010.