Sales were up some 57% in the second quarter at $71.46m. The company attributed the gains to the acquisition of two distributors in April which had consolidated its position in the Polish drinks market. It paid $11.75m in cash plus 334,000 shares for Agis and Damianex which had combined profits of $2.8m and sales of $154m in 2001.
POLAND: Threefold profit increase for CEDC
The drinks importer and distributor, Central European Distribution Corp. (CEDC), reported a threefold rise in net income for the second quarter of 2002 to $1.94m, boosted by recent acquisitions.