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Zwack Unicum Earnings Fall as Inflation Hits Sales

Figures

Misibacsi vis Wikimedia Commons

After-tax profit of Zwack Unicum, Hungary's biggest spirits maker, fell 36% year-on-year to HUF 0.8 billion in the first quarter of the company's business year started April 1, state news wire MTI writes, citing an earnings report published today.

Net sales revenue fell 6% to HUF 5.3 bln.

Zwack attributed the decline in part to a country-wide drop in consumption caused by high inflation and noted its retail sales fell close to 12%, while wholesale turnover dropped 26%, albeit from a high base when business partners stocked up ahead of a price hike.

Domestic sales accounted for almost 90% of turnover. Zwack said it aimed to boost the share of export revenue from 11% to 15% in the next three years.

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