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Zwack Unicum H1 profits inch up 3%

Zwack Unicum, Hungary's most famous spirits maker, had after-tax profit of Ft 1.57 billion in the first half of its business year started April 1.3% more than in the same period a year earlier, the company said in its H1 IFRS report published on Monday.

First-half net sales - excluding excise tax - rose 6% to Ft 10.3 billion. Sales of Zwack Unicum's own products climbed 5% to Ft 8.6 billion, and sales of products Zwack Unicum distributes increased 11% to Ft 1.6 billion.

Sales of premium products rose 2%, turnover of mid-range products increased 6% and sales of non-branded drinks were flat.

Zwack Unicum noted that retail sales grew about 20% while turnover through wholesale channels dropped some 5%.

Exports jumped 36% to Ft 859 million, with sales in the US, where the company recently introduced its flagship herbal liqueur, accounting for about one-fifth of the total.

Material costs rose 5% to Ft 3.9 billion.

Pre-tax profit rose 3% to Ft 2.1 billion. Operating profit increased 2% to Ft 1.9 billion.

Zwack Unicum had total assets of Ft 16.7 billion on September 30, 2008, 8% more than twelve months earlier, including shareholders' equity of Ft 12.02 billion, up 5.5% in a year. (MTI – Econews)