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POLAND: Polmos Lublin ends 2005 on a high

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Polish distiller Polmos Lublin has posted a record-breaking end to 2005.

The Polish vodka maker said yesterday (16 January) that net profit last year was 89% up on 2004, coming in at PLN1.9m (US$599,756), while the last three months were the best in the company's history.

Operating profit for the final quarter rose 12% on the corresponding period a year earlier to PLN7.4m, while net profit increased by 3% to PLN4.8m. Sales in the fourth quarter were up by 38% on Q4 2004, helping drag full year sales up by 3% to PLN349m.

"These are the best ever (quarterly) results of the company," Polmos Lublin said.
 
Full-year operating profit slumped by 60% year-on-year, however, at PLN10.5m. Operating profit was still above Lublin's October forecast of PLN9.5m, as falling sales in the first nine months and one-off costs took their toll. The company noted that it had lost PLN4.4m on the failed bid to buy domestic rival Polmos Bialystok.

The company's share of the domestic vodka market share for was up rose 8% last year, it added.


Sectors: Spirits

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