PGF posts modest profit on revenues of zł.1 billion

"We achieved the highest profitability of all the other stock listed companies in our sector," said Jacek Szwajcowski, PGF's president. The rate of operational profitability and EBITDA rose to 2.4 and 2.85% respectively. However, the net profit increased only by 0.6%. This was caused by the necessity to allocate zł.4.8 million of operational profit to Arkadiusz Kamiński, a former advisor and PGF supervisory board member, as PGF lost a court case when the corporation accused him of selling his shares in order to help his wife create a competing company. PGF's revenues in Q1 exceeded zł.1 billion. The company plans further growth through various means, including acquisitions. It also wants to increase the network of pharmacies under the brand of "Dbam o zdrowie" to 2,000. (Puls Biznesu, p. 11) M.K.