431% increase in EBIT and a 193% increase in net income – SARE Group summarizes year of dynamic growth

20 February 2015

– SARE Group SARE from the very debut on NewConnect market is one of the fastest growing players. Further years have brought an increase in the results both in terms of revenue and net profit. This confirms the effectiveness of our strategy – says Tomasz Pruszczyński, President of the Board of SARE SA.

Last quarter of 2014 have brought net sales amounted to just over 7.09 million PLN, which means an increase of over 55% compared to the fourth quarter of 2013. In the fourth quarter of 2014 SARE Capital Group achieved a net loss of approx. 9 thousand. zł, compared to a loss of 48 thousand PLN in the fourth quarter of 2013. SARE Group’s results in the fourth quarter were burdened by one-off events, such as write-downs related to the disputed receivables from one of the partners in the amount of 475 thousand. SARE Group intends to enforce their rights through the courts. The positive outcome of the proceedings may result in the reversal of provision in the future.

– Year 2014 was a period of hard work of the whole team, and this caused measurable effect on growth – says Tomasz Pruszczyński. – We intend to continue to carry out activities focused on optimizing processes that will result in further increases at all levels of the income statement. I am convinced that this will help to maintain the momentum of development of our company.