Advertising budget to remain, but NO to extra shares say Wawel

Publicly listed confectionary producer Wawel, has announced plans to m aintain its high advertising expenditure, which is to reach zł. 5 million this year, in order to reach its goal of recording over zł. 3 million in net profits. "We do not have any other choice. If we want to increase sales, we have to advertise our products," said Dariusz Orłowski, the President of Kraków-based Wawel. This year the company carried out four advertising campaigns, with the latest one still in progress. Company representatives have the same plans for next year. The only threat to the advertising budget is the necessity to finance its largest investment, which is a new pro duction plant worth zł. 50 million. "Construction is scheduled to start early 2004. We will finance it through our own funds and other potential sources. We have no intentions of issuing extra shares," added Orłowski. (Puls Biznesu, p. 11) A.K.