Stock Spirits enjoys strong Q3 following stock market launch

Stock Spirits Group has enjoyed a “very strong” third quarter since its launch on the London Stock Exchange (LSE) in October this year.

Stock Spirits Group,headed by CEO Chris Heath, has reported “very strong” Q3 results following its initial public offering (IPO) on the London Stock Exchange

From 30 June to date, the UK-headquartered spirits producer and distributor, which operates primarily in Central and Eastern Europe, has experienced a volume growth of 6%.

Christopher Heath, CEO of Stock Spirits Group said: “It gives me great pleasure to update the market on our trading for the first time since the completion of our successful IPO (initial public offering).

“Stock has enjoyed another very strong quarter’s trading with growth in volumes across clear vodka and other categories. The growth in premium brands has improved mix and underlying performance in the quarter is slightly ahead of management expectations

“We are excited about what the future holds for the group.”

The company also announced its continued market share growth in Poland, particularly since becoming the exclusive distribution partner of Beam brands in the country.

However, Heath added that Stock Spirits has been “making appropriate plans” and “liaising closely with clients” to negate any damaging effects proposed increases to Polish excise levies may have.

The firm has also seen market growth in Czech Republic, a trend which looks set to continue following the company’s recent announcement of another exclusive distribution partnership in the country, this time with Diageo.

Heath added that due to its solid year-to-date performance, the group is expected to deliver full year results which are “at least in line with management expectations”.

Stock Spirits floated a quarter of its shares on the London Stock Exchange in October to raise £52 million, improve the group’s profile, provide access to global markets and allow it to progress with its “ambitious growth strategy”.