5/09/2006

Wawel posts 58% rise in Q1 net profit

The Polish confectionery group Wawel SA has posted net profit of PLN6.34m (US$2.1m) for the first quarter of 2006, up 58% from PLN4.02m in 2005.

Wawel have the longest experience and tradition among confectionery manufacturers in Poland. It has been established in 1910 and has been famous before second world war for strong local brands as well as Pischinger and Suhard licence production. In the twenties the companies have merged giving Wawel international importance. In 1951 the factory has been transformed into government belonging company. It has performed extremely well throughout forty years developing its own strong brands. The company has been privatised in 1992 following economy transformation in Poland. The same year Wawel was started to be noted at Warsaw sock exchange. Wawel belongs to biggest players in confectionery industry in Poland and with over 100 million PLN turnover(1999)gains close to 4 % of the local market what is quite an achievement considering extremely strong local and international competition active on Polish market. It is remarkable that Wawel is not questionable leader in Light sugar free products gaining 80% of this developing segment.



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