Poultry producers report dramatic 1st quarter increase in sales and profits

Amidst the ailing Polish food market two major poultry processing companies Indykpol and Drosed recorded increased sales in the first quarter this year. Both companies have also improved their profitability; Indykpol closed the first three months of this year with zl.1.4 million net profits, or a 50% increase in sales, whereas Drosed posted zl. 2.4 million in net profits for a 20 percent jump in sales. Compared to the respective period in 2000, the former' s net profits leapt by 133 percent and the latter' s soared by 166 percent. According to Drosed head Ryszard Pietkiewicz, the dramatic increase in sales and net profits is the result of good management, but analysts say much of the success is to be attributed to European-wide fear of BSE and foot-and-mouth disease panic as well as a falling demand for red meat. Both companies have recently begun exporting their products and are optimistic about expansion on foreign markets. (Puls Biznesu, p.11) J.K.