Poland’s second largest vodka producer CEDC, responsible for brands like Bols and Żubrówka, recorded a loss of USD 1.2bn in 2011. It’s the worst result ever, it’s the worst result ever for the company, but also seen as the worst ever to hit a company on the Warsaw Stock Exchange. The company says the nightmare result was brought about by a fall in its market value of USD 1.1bn along with the loss some of its trademarks. Not everyone is buying the explanation, however, hinting that its profit predictions for 2011 had been unrealistic.
