Excellent first half results for Żywiec

Brewer Grupa Żywiec has posted a net profit of zł. 101 million after the first half, which is a 25% better result than a year earlier, thanks to its policy of cutting costs and making better use of its production capacity. The company managed to sell 4.2 million hectoliters of beer, while its market share increased from 32% to 32.4%. "We expect that the current growth of sales will be maintained," said Żywiec president Nico Nusmeier. According to the brewer's plan, its subsidiaries should record a 3-5% sales growth during 2003. However, the management claims that, "The government is using a negative excise policy towards brewers, as it is three times higher than in Germany or the Czech Republic." If the results for the remaining months would remain similarly positive, then Żywiec profits should substantially exceed zł. 200 million, which would also mean a high dividend payout for the company's shareholders. (Puls Biznesu, pp. 1, 8) M.M.