Central European Distribution Corporation (CEDC) predicts a healthy 2004. The alcohol importer and distributor should benefit from a cut in Polish corporate income tax and acquisitions.

CEDC predicts net sales next year to reach between US$515m and $525m. Earnings per share should hit between $1.83 and $1.90, the company said.

The Polish government has reduced corporate income tax from 27% to 19% earlier this year. CEDC is currently in acquisition talks, with a view to increase its share of the domestic vodka market from the current 30% to 40%.

The corporation distributes many leading brands in Poland, including Johnnie Walker Scotch, Jose Cuervo Tequila, Sutter Home and Mondavi wines, and the Corona, Foster's, Budweiser Budvar and Guinness beers.