Zwack posts Ft 966 mln Q3 profit
Wednesday, November 9, 2005, 12:24
Distiller Zwack Rt reported outstanding figures for the third quarter of 2005, with its operating profit jumping by 26.4% year on year to Ft 966 million. Excluding changes in bonus accounting, the profit would have gone up by 34% in annual terms.
In light of the Q3 results, an increase in dividend expectations is very likely and an expectedly record high dividend could give another boost to the share price.
Zwack's gross sales declined by 3.1% year on year July-September, but as excise tax dropped by more than this (4.6%), net revenues were down by only 2.3% from Q3 last year.