Furniture
Swarzędz plans yet another stock sale
Ailing furniture-maker Swarzędz SA says it plans to raise more money in yet another round of financing on the WSE. One of Poland's best furniture brands, Swarzędz sold just 1.7 million zloty worth of new stock in an offering that closed in early 2005. The group sought to raise as much as 9.5 million zloty as part of a plan to help restore its financial liquidity.
Separately, Swarzędz said its fiscal 2004 profit of just 4000 zloty has turned into a 16.6 million zloty loss after its auditor told the company it must take additional charges related to several money-losing subsidiaries.