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Zwack profit up over 27% in H1

After-tax profit of Zwack Unicum, Hungaryʼs best-known spirits maker, rose 27.4% year-on-year to HUF 1.13 billion in the first half of its 2018-2019 business year, an earnings report released after the end of market trading on Tuesday shows. Operating profit was up 28.4% at HUF 1.38 bln in H1. 

Total gross sales of the company, which is listed in the Equities Prime category of the Budapest Stock Exchange, amounted to HUF 12.15 bln, a year-on-year increase of 14.3%, state news wire MTI reported. Zwackʼs revenues, net of taxes including the excise tax and public health product tax, rose 13.7% to HUF 7.35 bln.

Net sales of self-manufactured goods increased in the domestic market by 17.1% to HUF 5.18 bln. Broken down, sales of premium products increased 13.7%. Export revenues reached HUF 765 mln following a 5.6% growth.   

Direct costs of sales climbed 11.7% to HUF 2.97 bln, with the gross margin increasing by 0.7 of a percentage point to 59.6%.

Payroll costs were up 6.6% to HUF 1.42 bln. Other operating expenses climbed 13.5% to HUF 1.62 bln, mainly due to higher marketing expenses.