Spirits maker Zwack Unicum Rt had pre-tax profit of Ft 892 million (€3.3 million) on gross sales revenue of Ft 7.17 billion in the first quarter of its business year started April 1, according to its consolidated report, prepared with International Financial Reporting Standards (IFRS) and published on Thursday.
Sales rose 22.1% from the same period a year earlier, but profits fell 12.6%, albeit from a high base boosted by an extraordinary item, the sale of a property in Budapest. Excluding the Ft 452 million from this sale, first-quarter pre-tax profits rose 56.9%, the company noted.
Operating profit fell 14.9% to Ft 834 million. However, excluding the property sale a year earlier, operating profit rose 58%. Operating profit on Zwack's own products rose 58.4% to Ft 824 million; operating profit on brands Zwack only distributes rose 29.8% to Ft 10 million. Excluding excise duties, revenue rose 18.1% year-on-year to Ft 4.677 billion in April-June. Revenue including excise duties from the sale of its own products increased 16.8% to Ft 3.99 billion, while revenue from sales of brands the company only distributes increased 25.4% to Ft 689 million.
Among domestic sales, Zwack Unicum's turnover from its own products increased 21.5%, including a 24% increase in revenue from premium products, a 31% rise in revenue from mid-range products and a 7% rise in revenue from low-end products. Revenue from wine sales rose 47% and revenue from sparkling wine sales was up a marked 300%.