Mieszko posts good Q3 results and looks towards sector consolidation

Mieszko, a confectionary producer with a 7% share of the market, announced plans to triple its sales and profit over the next four years. In the third quarter, the company recorded a 16% increase in revenue from sales, with exports accounting for 22.3% of total sales, profits rose by 331% in comparison with the same period last year. As a result, Mieszko recorded higher sales increases than its two main competitors, Jutrzenka and Wawel. After the first nine months of 2002, the company recorded sale revenues of zl. 107.4 million and a net profit of zl. 4.2 million. These excellent financial results are chiefly the result of increased sales in hypermarkets and growing exports. "The increase in exports are the result of our participation in numerous foreign fairs, as well as cooperation with our partners," said Tomasz Gajdzinski, the head of Mieszko, who announced that he is open to offers to consolidate the sector. "If any company is interested in this process, then Mieszko will respond positively," he said in a statement. (Prawo i Gospodarka, p. 6) A.K.