StockMarketWire.com - Eastern Europe-focused alcoholic drinks company Stock Spirits Group posted a 14% rise in annual profit as it boosted sales in its key markets of Poland and the Czech Republic.

The company reported pro-forma 12-month results to account for a move in its financial to end September.

Net profit, on a 12-month pro-forma basis, for the year through September rose to €33.2m, as revenue rose 8.7% to €282.4m.

The company a final dividend of 6.01 cents per share, giving a total dividend in respect of the nine-month period 2018 of 8.51 cents, up 5.1% on-year.

'This has been a year of good growth for Stock Spirits, and today's results show that our strategy of focusing on premiumising our range and increasing the use of digital channels in order to engage with millennial consumers is working,' chief executive Mirek Stachowicz said.

'We are pleased with the increasing strength and resilience of our core Polish business, and also with the way in which we have combatted the headwinds experienced earlier in the year in the Czech Republic.'

'Given the positive momentum in our underlying business and our portfolio of strong brands that are responding well to our ongoing programme of investment, we remain confident of being able to achieve further growth in the future.'




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