Cersanit Group's venture into new markets pays off

One of the biggest domestic producers of bathroom fittings, Cersanit Group (CG) has recorded over 80% higher profit in 2002 in comparison with 2001. "Net profit amounted to over zl. 35 million, while sales revenues jumped by more than 50%," said CG president Zbigniew Lange. Such results were mostly due to entering new markets, such as ceramic tiles. Analysts estimate CG's share in this market at around 8%. "Last year's sales increase was mostly due to an easy entry into the segment for ceramic tiles. They used the synergy effect," believes DM BIG BG analyst Michal Buczynski. Cersanit plans to construct another tile plant and to end up with a 25% market share. The company plans to spend zl. 150 million on investments in 2003 and, "We plan to receive zl. 60 million from a share issue scheduled for February," said Zbigniew Lange. (Puls Biznesu, p. 10) M.M.