Operating profit is up to €12.5 million from €5.2 million in 2015. Profit after tax has gone from €0.2m in 2015 to €8.4 million. Total revenue has gone from €108m last year to €116m this year. Total volume is also up: from 4.9m in2015 to 5.4 million 9-litre cases.
Stock’s new CEO Mirek Stachowicz (pictured), said: “I am delighted to have been appointed CEO and pleased to announce EBITDA (earnings before interest, taxes and depreciation) growth across all our markets for the first half of this year, after a difficult 2015. The board is particularly pleased that the many initiatives we have put in place in Poland are starting to show positive results, with market share being regained across our core traditional trade outlets. Although the recovery is in its early days, the Board is confident that the strengthened management team in Poland will be able to build on this encouraging start over the coming months.
“We are also pleased to announce today the payment of an interim dividend of €0.0227 per share, following the payment in July of a special dividend of €0.119 per share, said ” Stachowicz.
Stock Spirits, says it offers a modern premium branded spirits portfolio, rooted in local and regional heritage. With core operations in Poland, the Czech Republic, Slovakia, Italy, Croatia and Bosnia & Herzegovina, Stock also exports to more than 40 other countries worldwide. Global sales volumes currently total over 100m litres per year.
Stock says it holds strong market positions in spirits in both Poland and the Czech Republic and is one of the world’s leading vodka producers. Core Stock brands include Stock brandy, Fernet Stock bitters and Limonce, as well as more recent creations like Stock Prestige and Zoladkowa de Luxe vodkas.