Pollena Ewa limits sales to avoid late payments

Cosmetics producer Pollena Ewa is limiting sales and incurring losses but, according to its plans for 2003, should finally turn a profit. "I understand that limiting sales is not a very popular move, but we hope to avoid confrontation with retailers not paying for goods," said Pollena Ewa's financial manager Jolanta Markowska. In 2002 the company recorded a net loss of zl. 3.3 million on sales of zl. 45 million - zl. 10 million less than in 2001. The company claims that its problems were mostly due to unfavorable macroeconomic circumstances compounded by companies' difficulties in meeting their liabilities both toward the government and their commercial partners. (Parkiet, p. 4) M.M.