Are you sure?

Flat profits are target threshold for Zwack

Though the weaker forint puts Zwack Unicum at a disadvantage, Hungary's most famous spirits maker expects profits and sales volume in its business year started March 1 to at least match that in the 2008/2009 business year, chairman Sándor Zwack said.

Because of the economic crisis, sales of Zwack products at catering establishments dropped 30% in the past six months, Zwack said.

Zwack paid out a HUF 1,300-per-share extraordinary dividend on Friday, but shareholders can also count on “the usual HUF 1,000-1,200 dividend,” he said.

The weaker forint is bad for Zwack Unicum because the company is a net importer, and its competitors are not yet raising the prices of their products, he added. (MTI – Econews)