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.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
