PGF announces dividend payout and investments

Polska Grupa Farmaceutyczna (PGF) one of the country's largest pharmaceuticals distributors forsees its consolidated revenues rising to zl. 3.4 billion in 2003. At a press conference yesterday the company's director, Jacek Szwajcowski, announced that PGF would also pay out zl. 10 million of last year's net profit in dividends. "I think the company's board will vote against paying out the dividend but shareholders will be of a different opinion," added Szwajcowski, who holds 31.49% in PGF and is the company's biggest shareholder. This year PGF plans to spend zl. 23 million on investments, including IT purchases and modernization of its buildings. PGF controls 20% of the domestic pharmaceuticals distribution market. (Parkiet, p. 4; www.biznesonet.pl) J.K.