Zwack Unicum Earnings Fall as Inflation Hits Sales
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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 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.