Zwack Unicum Profit Falls on Higher Costs
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After-tax profit of Zwack Unicum fell 37% to HUF 1.3 billion in the first half of its business year which started on April 1 on a "drastic increase" in feedstock prices, the spirits maker said in an earnings report released on Thursday.
Net sales edged up 2% to HUF 10.4 bln, but Zwack noted that domestic sales volume had dropped by 6% amid a decline in consumption across the country because of high inflation.
Zwack said the decrease in consumption might have a "marked impact" on its performance for the rest of the business year, but added that management was still confident there was a "realistic chance" to meet the original targets.
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