POLAND: Polmos Lublin FY net profit almost doubles
Polmos Lublin has posted its full year results. The Polish vodka company, which has been trying to buy rival distiller Polmos Bialystok, said yesterday (25 May) that net profit had almost doubled in 2004.
While net profit soared by 95.5% year-on-year to PLN12.5m (US$37.7m) for the year, pre-tax profit also rose, to PLN17.1m from PLN8.7m.
The company saw sales revenue rise to PLN338.6m from PLN304.8m in 2003. Operating profit grew to PLN20.1m from PLN10.9m.
Lublin appears to have been trumped in its attempt to buy Bialystok by Sobieski Dystrybucja, who has just entered private negotiations with the Polish Treasury to buy the vodka company.
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