This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
News
Stock Spirits reveals upbeat 2017 trading update
Stock Spirits performed “slightly ahead” of expectations in 2017, with its key Polish business performing well despite “highly competitive” trading conditions.
Stock Spirits’s Polish business has performed well in 2017, despite difficult trading conditions
In a pre-close trading update for the full-year ending 31 December 2017, the Central and Eastern European spirits group said it is “making progress” towards its strategic priorities.
Together, both Poland and the Czech Republic markets delivered 75% of the group’s revenue. The firm said it was “pleased” with the results of its Czech business.
Citing data from market research group Nielsen, Stock Spirits said these markets continued to show growth in both volume and value terms.
It described group cash flow for the year as “strong”, resulting in net debt of around €53m (US$63m) – up from 2016, which was recorded as €60m.
Last year, the group saw a 32% rise in operating profits in the first half of 2017, as strategic initiatives that were put into place in 2016 began to deliver results.
Stock Spirits entered the Irish whiskey category in July with the purchase of a 25% stake in Dublin Liberties Distillery Company for up to €18.3m.
The company will announce its full-year results on Wednesday 7 March 2018.