Coffeeheaven appetite grows after positive experiences in Poland

Coffeeheaven Polska (CHI Polska), which is a part of Coffeeheaven Internati onal listed on the London Stock Exchange, so far in Central Europe has only been operating in Poland. The company has announced its intention to enter the Czech market, but also forecast it would soon expand to other Central E uropean countries, which are all part of its long-term strategy. According to the plan, the firm will rely both on organic growth as well as taking ov er other entities. CHI Polska posted a net profit of zł. 234,000 on revenues of zł. 9.5 million for its last accounting year, which closed in March. "Our sales have doubled in comparison to 2001. At present we run 14 coffee bars and we are in talks to open even more," said Maciej Jania, CHI Polska manag ement board member. The company plans to have 50 outlets by 2006. The money for further development has among others been obtained from a zł. 14 million bonds issue, currently listed on over the counter market CeTO. (Parkiet, p. 4) M.M.