Poland’s biggest e-commerce platform Allegro expects its earnings to rise 8%-12% in its home market this year, it said on Thursday, and proposed a share buyback of around 1.4 billion zlotys ($363.95 million).
Reuters
Allegro reported fourth-quarter core profit of 975.2 million zlotys in the Polish market, beating a consensus estimate of 960 million zlotys in a company-compiled poll.
“Customers’ purchases with us grew more than three times faster than Poland’s retail sales as a whole,” CEO Roy Perticucci said in a statement.
Earnings also beat expectations at the group level, helped by narrower losses in the company’s international operations.
Allegro, which has also rolled out its marketplaces in the Czech Republic, Slovakia and Hungary within the last 18 months, said it would pause further launches abroad as it builds shopping frequency.
The share buyback will be put to a vote at its June shareholder meeting, it said.
