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POLAND: CEDC sees earnings soar during Q3

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Poland's leading vodka producer Central European Distribution Corporation has seen profits more than double during the third quarter.

The US-based company said last night (6 November) that operating income soared by 161% to US$24m in the three months to 30 September.

Net sales rose 25% to $234m as the company, which distributes a raft of third-party products in Poland, increased the sales of its own brands, which include vodka brand Absolwent.

William Carey, the company's CEO and president, said: "We continue to see gross margin and operating margin improvement in the overall business, led by our strategy of selling a more premium portfolio of alcoholic beverages."

CEDC also produces the Zubrowka, Bols and Soplica brands and is the leading distributor and importer of alcoholic beverages in Poland and Hungary.

The company handles brands including Sauza Tequila, Concha y Toro wines, and Foster's lager.


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