POLAND: Polmos Lublin sees 2006 profit soar
Polmos Lublin has posted a huge leap in net profit for last year.
The Polish vodka company, which owns and produces Zubr vodka, said late last week that net profit for the full-year in 2006, came in at PLN14.12m (US$5.1m), a massive 407.9% climb on the PLN2.78m reached a year earlier.
Consolidated sales for the period were also up, albeit less impressively, to PLN562.4m from PLN349.86m in 2005. Operating profit doubled, totalling PLN21.3m against PLN10.48m.
Late last year, the Polish vodka distiller warned that net profit for 2006 would not hit the initial target of PLN17.9m, and would more likely come in around PLN14.7m. Expectations for total sales for the year were forecast to be up, at around PLN524m against an initial estimate of PLN424m.
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