Zywiec announces profit increase and new share issue

Leading brewer Zywiec has announced a healthy profit of zl.1.25 billion in the first half of the year, even though the beer market generally remained in the doldrums. The company's consolidated profit increased by 54% from the same period of last year, a result that pleases Dutch brewer Heineken International, which holds a 51.6% stake in the company. Commenting on the situation on the Polish market, president of the Zywiec Group, Alle Ypma, said, "Beer producers have to face the problem of the high excise duty, which is higher than in Germany, the Czech Republic or Slovakia." To improve the company's financial position and to service its debts, the Zywiec management has decided to increase its capital by selling 4.5 million new shares. The issue, which is scheduled to take place by the end of this year, will probably be taken up by the Zywiec Group's largest shareholders, Heineken and Harbin BV. (Rzeczpospolita, p. B4) A.Z.