Zwack controls operating costs, profits climb

Telco

After-tax profit of Zwack Unicum, Hungaryʼs most famous spirits maker, rose 42% to HUF 1.0 bln in the first half of its business year starting April 1 as the company reined in payroll and other operating costs, an earnings report published late yesterday shows, according to Hungarian news agency MTI.

Net sales revenue rose 17% to HUF 6.5 bln, while material costs climbed at the same pace to HUF 2.6 bln. Operating costs increased just 5% to HUF 2.8 bln, lifting operating profit 41% to HUF 1.3 bln. 

Domestic sales climbed 18% to HUF 5.7 bln, with sales of Zwackʼs own products up 16%. Sales of products made by peers rose 24%.

Zwack said it had achieved 45-50% of its annual profit target in the first half and its management projected the company would "moderately outperform" the full-year target.

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