Zwack has published its quarterly report

By: Trademagazin editor Date: 2020. 08. 06. 11:22

The closure of the catering units for several weeks had painful consequences for the Hungarian spirits producer, Zwack. Despite the fact that the sales of beverages in stores increased slightly, the turnover decreased by a quarter in the period of April-June – portfolio.hu wrote. However, domestic sales are improving month by month, with June already almost as strong as a year ago. As a result, the company’s loss for the period was much smaller than previously forecasted by management.

Zwack’s quarter was also marked by the coronavirus pandemic, as pubs were closed for two months during the period as a result of government measures. Although in-store retail sales of spirits increased (by 1.5 percent in value by 5.6 percent), this was far from enough to compensate the loss of restaurants and bars. (portfolio.hu)