9 Jan 2018 07:00
9 January 2018
STOCK SPIRITS GROUP PLC
Pre-Close Trading Update
Stock Spirits Group PLC ("the Company"), a leading owner and producer of premium branded spirits and liqueurs that are principally sold in Central and Eastern Europe, today provides a pre-close trading update for the full-year ended 31 December 2017.
Overall trading since the half-year results announced in August, and therefore for the full-year ended 31 December 2017, was slightly ahead of our expectations.
Together, the markets of Poland and the Czech Republic deliver some three-quarters of our revenue. These markets continued to show growth in both volume and value terms (source: Nielsen YTD November 2017).
Our Polish business has performed well, and is making progress towards our strategic priorities despite trading conditions that continue to be highly competitive. We are also pleased with the results of our Czech business.
Group cash flow for the year was strong, resulting in net debt at 31 December 2017 of circa €53m (2016: €60m).
The Company will announce its full-year results for the year ended 31 December 2017 on Wednesday 7 March 2018, when it will provide a more detailed update on trading and performance during the year across its key markets.
ENDS
For further information
Stock Spirits Group PLC: Paul Bal, Chief Financial Officer
| +44 (0) 1628 648 500 |
Powerscourt: Rob Greening Lisa Kavanagh
| +44 (0) 20 7250 1446 |
A copy of this announcement has been posted on www.stockspirits.com. Investors can also address any query to investorqueries@stockspirits.com
About Stock Spirits Group
Stock Spirits is one of Central and Eastern Europe's leading branded spirits and liqueurs businesses, and offers a portfolio of products that are 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 100 million litres per year.
Stock has state of the art production facilities in Poland and the Czech Republic, and its core brands include products made to long-established recipes such as Stock 84 brandy, Fernet Stock bitters and Limonce, as well as more recent creations like Stock Prestige and Zoladkowa de Luxe vodkas.
Stock is listed on the main market of the London Stock Exchange. For the year ended 31 December 2016 it delivered total revenue of €261.0m and operating profit of €40.1m.
For further information, please visit www.stockspirits.com