StockMarketWire.com - Stock Spirits has swung to a FY pretax profit of 49.03m euros, from a year-earlier loss of 8.68m euros. Revenue was 292.7m euros, from 340.5m euros. It proposed a final dividend of 0.025 euros a share, in addition to its interim dividend of 0.0125 euros a share.

CEO Chris Heath commented:

"Whilst 2014 has been a very challenging year for the Group following the 15% increase in excise duty in Poland, we have remained faithful to our strategy and achieved several important goals.

"We have continued to invest in our brands and our production capability and launched a number of successful new products. We are also delighted with the first full year of our distribution agreements with Beam Suntory in Poland and Diageo in the Czech Republic which have helped deliver significant value and volume growth.

"In the past year we have also signed new distribution agreements with Beam Suntory in Croatia and Bosnia, paid our first dividend and renegotiated a reduction in our bank margins.

"We expect trading conditions in Poland to remain difficult moving into 2015 but expect more normal trading patterns will resume during the course of the year.

"Our underlying performance and cashflow are strong and the Board is pleased to propose a final dividend of €0.025 per share. We remain confident in the future of the Group which is well placed to capitalise on the opportunities available in the Central and Eastern European Region."






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