Polmos Lublin says a round of new buys is cure for its Białystok hangover

"The worse results are an effect of several extraordinary events which will not repeat in this half of the year. There is a chance for a profit over the whole year," declared the company's president Marek Malinowski. The decrease in sales is a result of a recent dispute with CEDC, the largest alcohol distributor in Poland and a Polmos Lublin competitor in the bid for Polmos Białystok shares, which suspended its orders for Polmos products claiming that its warehouses are full of Żoładkowa Gorzka, a main Polmos Lublin vodka brand. The expenditure for the unsuccessful takeover of the Białystok-based company amounted to around zł.4 million spent on legal and financial advisory services. In addition, the company also created a zł.1.5 million reserve for tax, since the tax office questioned its tax settlements. Polmos Lublin wants to increase its revenues through acquisitions. "Due to its product portfolio, we find Polmos in Bielsko-Biała very interesting. If it is privatized, we will submit our offer," declared Malinowski. (Puls Biznesu, p. 11; Parkeit, p. 5) E.B.