Zwack profits jump 22% to HUF 2.3 bln
Hungarian Zwack Unicum, the country’s best-known spirits maker, saw a year-on-year 22% increase in after-tax profit of HUF 2.3 bln in the first three quarter of its business year ending on March 31, an earnings report published yesterday reveals.
The company attributed the profit to increasing revenue while costs were controlled. Zwack revenue increased by 11% to HUF 19.4 bln, and after paying excise tax, revenue came to HUF 11.6 bln, up by 12%. Operating costs rose by 2% to HUF 4.1 bln in the same period, lifting operating profit by 35% to HUF 2.9 bln.
In the first three quarters of Zwack’s current business year, domestic sales grew by more than 24% as business partners brought forward purchases prior to a health tax being extended to a broad range of spirits from the start of the calendar year.
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