Improved margin lifts Zwack Unicum profit 20% in H1
After-tax profit of Zwack Unicum, Hungary’s most famous spirits maker, rose 20.2% to HUF 894m in the first half of its business year started April 1 from the same period a year earlier as margins improved, the company’s IFRS report published late Thursday shows.
Revenue, excluding excise tax, rose 8.1% to HUF 6.11bn during the period.
Zwack said sales of quality products rose by 7%, while sales of premium and non-branded products edged down by 1% and 3%, respectively.
Export revenue reached HUF 599m, practically level with the base period.
Material costs were up 8.0% at HUF 2.68bn. Gross margin rose at about the same pace as revenue to HUF 3.43bn.
Total operating costs, however, increased just 5.0% to 2.82bn, contributing to a 12.1% rise in operating profit of HUF 1.01bn.
Zwack’s pre-tax profit was up 14.2% at HUF 1.16bn.
Zwack had total assets of HUF 13.77bn on September 30, up 2.7% from twelve months earlier. Net assets were unchanged at HUF 9.81bn.
Zwack’s management said in the report that they could only offer a "sound prognosis" for full-year results after the Christmas season, but added that "there could be an opportunity of accomplishing" the HUF 1.60bn after-tax profit target for the 2011/2012 business year in view of the H1 results.
ADVERTISEMENT
Karotin Developing Soil Management System in HUF 545 mln R&D...
Parliament Negates Mandatory Membership in MOK
Graphisoft Introduces Archicad Collaborate
Meet the Expat CEO of the Year Nominees
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.
