PGF has ambitious financial prognosis for 2004

"The restructuring process which was conducted over the past few years is starting to bear fruit," said Jacek Szwajcowski, PGF supervisory board chairman. The pharmaceutical distributor counts on having a profitability ratio of 1.6%. PGF representatives are also planning further investments. The most important project slated for this year is the construction of a new logistics center in Łódź, at a cost of around zł. 12 million. PGF emphasizes that it is still interested in participating in the privatization of state owned drug distribution companies, therefore its planned investment expenditures might still rise. The group has also kept its promise to pay out dividends, which will amount to zł. 2 per share this year . This means that PGF will pay approximately 60% of last year's profits to its shareholders. (Parkiet, p. 3) A.K.