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Zwack Unicum profits plunge on weak margins

Listed liquor maker Zwack Unicum Nyrt said IFRS after-tax profit in its business year ended March 31 fell nearly a quarter to HUF 2.3 billion from a year earlier.

Gross revenue narrowed 14% to HUF 24 billion as sales abroad slipped 8% to HUF 1.3 billion. Gross margin fell 20% to HUF 8.6 billion, which Zwack blamed on the weak forint and changes in its product portfolio. Zwack will be holding its annual general meeting on June 29, where the board will propose to pay a total HUF 2 billion or HUF 1,000-per-share in dividends from last year's earnings.