Stock Spirits Group has reported a 15.1% year-on-growth in underlying revenue to €189.6 million in the first half of its financial year, ended 31 March 2020.
The company’s Polish division saw a 25.4% jump in revenue, while underlying revenue in Czechia rose 9.1% (both at constant currency), reflecting growth in volume, pricing and mix in both markets.
EBITDA for the period increased by 25.6% to €45.6 million while operating profit grew 32.3% to €38.8 million.
Commenting on the company’s performance, chief executive officer, Mirek Stachowicz, said, "These strong results are a testament to the quality of our brand portfolio, the strength of our customer relationships, and the resilience of our business model.
"It is also these attributes that have enabled us to successfully manage the excise changes that were implemented earlier in the year in our key markets of Poland and Czechia."
Impact Of Pandemic
The COVID-19 pandemic has had minimal impact on its performance in its core markets and on the group’s overall financial position to date, the company said.
Stachowicz explained, "There remains robust demand for our products, but we are monitoring developments closely and are able to respond quickly if required.
"Our first priority continues to be the health and well-being of our employees, and I would like to thank them all for their extraordinary resilience, loyalty and hard work during this period."
In April, Stock Spirits started manufacturing hand sanitisers at its production facility in Pilsen, Czechia to help the local government and retail companies in fighting the pandemic.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.
