Zwack Unicum Profit Drops on Higher Costs
The Zwack Unicum HQ in Budapest
Image by Andocs / Shutterstock.com
After-tax profit of Zwack Unicum, Hungary's biggest spirits maker, fell 16% year-on-year to HUF 3.2 billion in Q1-Q3 of its business year started April 1 as feedstock and operating costs climbed, an earnings report published on Tuesday shows.
Net sales rose 5pc to HUF 19.1 bln.
Material costs increased 7% to HUF 7.7 bln and operating costs climbed 16% to HUF 7.7 bln.
Zwack noted that domestic sales volume had dropped by 2.5% amid an overall decline in consumption caused by high inflation.
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.