Rising spirits

Central European Distribution Corporation has increased its net sales in Q3 2005 by almost 30 percent as compared to the same period in 2004. The company's operational income has grown by 44 percent.

The company's unaudited results announced earlier this month revealed that net sales grew from $145.8 (zł499.5) million in Q3 2004 to $187 (zł.640.7) million in Q3 this year. Operational income reached $9.2 (zł.31.5) million, compared to $6.4 (zł.29.1) million.

"We delivered another strong quarter of sales ... and in addition we also generated record cash flow from operations of approximately $23 (zł.79) million for the nine months ending September 30, 2005," said CEDC CEO and president, William Carey.

CEDC's operational activity focuses on Poland, where the company employs more than 2,000 workers. It supplies 37,000 recipients with about 900 alcohol brands. This year the company acquired Bols and 66 percent of shares in Polmos Białystok. "Owing to these acquisitions CEDC will become the fourth-largest vodka producer in the world," said Carey.

CEDC produces in Poland such brands as Absolwent, Bol, Soplica, and Żubrówka, which is currently being exported to European and Asian markets.