PGF continues to grow and grow

Pharmaceuticals distributor PGF sustained its annual 2004 revenues forecast, which should amount to around zł.4 billion. The company had surprisingly good Q1 results bearing in mind that the whole market was developing slower than anticipated and the growth amounted to a mere 3%. "The firm has chances of growing not only with the market, but also over it," said Jacek Szwajcowski, PGF president. Higher revenues of the distributor should be attributed to enlarging the capital group by Cefarm Kraków, but even excluding the new entity from the consolidated revenues would still see PGF grow by 3.8% for the first quarter. After the two planned acquisitions in Q2 and Q3, PGF will control roughly 300 drugstores, which will be the largest such network in the country. (Parkiet, p. 3) M.M.