Central European Distribution Corporation (CEDC), the European drinks distributor based in USA, has reported a net profit for the year of US$8.3m up by 229% and net sales for 2002 of US$294.0m, up 64.9% from US$178.2m in 2001. CEDC is one of the largest importers of beers, wines and spirits in Poland.

"We are pleased with our record fourth quarter and full year results. One of the main factors behind our strong results was the excise tax reduction on spirits on October 1, 2002. This reduction had a positive impact on both the top line and bottom line for the fourth quarter. The company expects to continue its double digit organic growth during 2003 and has a strong pipeline of potential acquisitions including the previously announced Dako Galant," said William Carey, CEDC's president and CEO.

19 March, 2003