Polmos Lublin 2005 figures tumble

Polmos Lublin 2005 figures tumble

Polmos Lublin has posted a fall in sales and profits for last year.

The Polish vodka distiller said yesterday (3 March) that sales in 2005 slipped to PLN81.1m (US$25.6m) from PLM85.6m in 2004.

Net profit plunged to PLN2.24m from PLN17.63m in 2004. In July, the company posted a net loss for the first six months of last year of PLN3.8m, blaming a disagreement with a key distributor and one-off costs related to its failed attempt to buy rival Polmos Bialystok.

In early January, the distiller boasted of a record-breaking end to the year, with the last three months of 2005 being the best in its history.

Operating profit for the full year was also down, at PLN9.9m from PLN26.18m a year earlier.