ADVERTISEMENT

Zwack Unicum profit falls as margins narrow

Music

After-tax profit of Zwack Unicum, Hungary's best known spirits maker, fell 15% to HUF 1.44 billion in its business year ended March 31 as margins narrowed, the company said in an IFRS earnings report late Thursday. Sales net of excise tax fell 2% to HUF 12.08 billion. Zwack Unicum noted that research shows Hungary's spirits market as a whole contracted almost 10% during the period. Material costs climbed more than 1% to HUF 5.59 billion, causing gross margin to fall 5% to HUF 6.49 billion. The company cut its operating costs by more than 6% to HUF 5.42 billion. The board will propose to shareholders payment of a HUF 1.58 billion dividend on the business year ended March 31, the agenda for the company's annual general meeting published Friday shows. If shareholders approve the proposal at the AGM on June 27, Zwack Unicum will have to dip into profit reserves to pay the dividend as the profit and loss statement for the 2012/13 business year, calculated with Hungarian Accounting Standards, shows after-tax profit of HUF 1.20 billion. The dividend works out to HUF 775 per share.

ADVERTISEMENT

Rate-setters augur slower decline in CPI in 2022 Analysis

Rate-setters augur slower decline in CPI in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.