The CEDC, one of the world’s largest producers and distributors of strong spirits and the owner of Zubrowka, the well-known Polish vodka brand, has reined in its financial forecast for 2010. Its net profit is expected to be between $0.76bn and $0.91bn, instead of the previously anticipated range of $0.9bn to $1.05bn. The net profit per fully diluted share has not been changed and is forecast to be between $2.1 and $2.2.
On a US GAAP basis in Q2 2010, the CEDC reported a net loss of $70.1m, or $1.00 per fully diluted share, in contrast to a net profit of $211.4m, or $4.28 per fully diluted share, for the equivalent period of 2009.
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