Zwack Profit Climbs 8%
After-tax profit of Zwack Unicum, Hungary's biggest spirits maker, rose 8% to HUF 3.4 billion in its business year ended March 31, an earnings report released on Friday shows.
Zwack's net revenue climbed 16% to HUF 21.2 bln. Material costs jumped 30% to HUF 8.5 bln, reducing the gross margin by 4 percentage points to 60%.
Zwack noted that it raised prices by 7%, on average, from July 1, and by 5.6% from January 1.
The company's tax burden grew 6%, as the excise tax rose, while spirits were exempted from the public health product tax.
Domestic sales account for close to 90% of Zwack's revenue.
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