PGF enjoys record H1 growth

The operating profit increased by 20% and amounted to zl.40 million. The company wants to maintain this trend and introduce incentives for its employees. "We are implementing a motivation program based on management stock options," revealed PGF president Jacek Szwajcowski. The program is to include an issue of 496,000 shares for zl.64.5 per share. The allocation of the shares will depend on the growth of the consolidated net profit and the return on shares. The company's general meeting also decided to sale and lease back its eight warehouses. The transaction is to be completed in Q3 and will allow the concern to reduce its debts which has recently diminished by almost 8% and now stands at zl.349 million. According to unofficial information, PGF also plans to introduce a new distribution system. (Puls Biznesu, p. 10) E.B.