Zwack Profit Falls 16%
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After-tax profit of Zwack Unicum, Hungary's biggest spirits maker, fell 15.7% to HUF 2.9 billion in its business year ended March 31, state news wire reports, citing an earnings report released on Friday.
Zwack's net revenue rose 4.5% to HUF 36.9 bln.
Net sales (excluding excise tax and public health tax) increased 6% to HUF 22.5 bln.
Domestic sales rose 7.3%. Revenue from Zwack's own products were up 8.6% at HUF 14 bln on the domestic market.
Zwack noted that while domestic sales revenue increased, sales volume fell by 1%.
Export sales fell 6.1% to HUF 2.2 bln. Of the main export markets, sales were up 4% in Italy, were almost unchanged in Romania, but fell 17% in Germany and 12% in Slovakia.
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