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POLAND: CEDC profits leap as it eyes Bialystock

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Central European Distribution Corporation said today that its first quarter net sales had risen 36% to US$150m, leading to a 64% rise in operating income to US$6.7m.

Net income was up 49% to US$4.6m, while diluted earnings per share grew 42% to US$0.27.

William Carey, president and CEO, said: "We are pleased with our results for the first quarter especially within our import portfolio, which increased 41% over first quarter 2004 sales.
 
Carey added that the company had submitted its second offer for Polmos Bialystok on May 5. "The Polish Treasury has stated that they would like to proceed with selecting the strategic investor by the end of May," he said.
 
CEDC is one of the leading importers of beers, wines and spirits, as well as the largest distributor of domestic vodka on a nationwide basis, in Poland.


Sectors: Spirits

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