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Zwack Unicum revenue falls, profits boosted by property sale

Zwack Unicum Rt, Hungary's best-known spirits maker, reported declining revenue, but healthy profits from its core activities in the first nine months of its business year ending March 31. The sale of a Ft 452 million property in Budapest boosted pre-tax profits 35.14% from the same period a year earlier to Ft 3.587 billion, according to Zwack's Q1-Q3 report, prepared with International Financial Reporting Standards (IFRS) and published Friday. Excluding the effect of the property sale, pre-tax profits rose 18.1% to Ft 3.135 billion during the period. Gross revenue fell 3.5% to Ft 22.017 billion. Excise tax on sales came to Ft 6.646 billion, 5.7% less than a year earlier. Net revenue decreased 2.5% to Ft 15.371 billion. Export revenue rose 5.5% to Ft 827 million.