Stock Spirits Group - Trading Statement and Notice of Results
STOCK SPIRITS GROUP PLC
Trading Update and Notice of Results
Trading for the year ahead of expectations, with continued volume and value growth in both
Stock Spirits Group PLC ("the Company"), a leading owner and producer of premium branded spirits and liqueurs that are principally sold in Central and
Overall trading for the year was ahead of our expectations. The impact of COVID-19 in the second half has been less than initially anticipated, with a strong Off-Trade performance being driven in part by On-Trade restrictions, lock-downs relaxing earlier than our prudent planning assumptions, and our brands benefitting from the trend towards staycations.
The Polish and Czech spirits markets, which together deliver some three-quarters of our revenue, continued to show growth in both volume and value terms despite excise increases during the year and the subsequent COVID-19 impact (source: Nielsen MAT
We are pleased with the strong performance of our Polish and Czech businesses, both of which achieved volume and value growth.
Our Polish business outperformed the total vodka market, with a strong performance from our flavoured vodka portfolio, where innovation helped us gain both volume and value share.
Our Czech business grew absolute retail value sales more than any other spirits competitor in the market. This was driven by the success of our strategic initiatives including further core brand premiumisation and new product development, which also helped the continuing recovery of our market share in herbal bitters.
Notwithstanding the impact of COVID-19 on the Czech On-Trade in the second half of the year, the contribution from Bartida (a high-end On-Trade spirits business that we acquired in
Group cash flow from operations for the year was strong, resulting in net debt (post adopting IFRS 16: Leases) at
As previously reported, our Polish subsidiary, Stock Polska, was issued with an assessment by the Polish tax authorities in respect of its 2013 Corporate Income Tax Return. A final appeal against this assessment was lodged with the Supreme Administrative Court in
The Polish government has decided to apply additional tax on small format pack sizes (300ml or smaller) of alcohol from
As ever, our first priority is the health and well-being of our colleagues, and on providing them with safe working environments.
We will announce our results for the year ended
For further information
Stock Spirits Group PLC:
+44 (0) 1628 648 500
+44 (0) 20 7250 1446
About Stock Spirits Group
Stock Spirits is one of the leading branded spirits and liqueurs businesses in Central and
Stock has production facilities in
Stock is listed on the main market of the London Stock Exchange. For the year ended
For further information, please visit www.stockspirits.com
Quick facts: Stock Spirits Group
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