FINANCIAL HIGHLIGHTS
Total revenue €119.8 million, an increase of 3.3% (2016: €116.0 million)
Operating profit €16.5 million, an increase of 32% (2016: €12.5 million)
Profit after tax €11.7 million, an increase of 40% (2016: €8.4 million)
Basic EPS 6 € cents per share, an increase of 50% (2016: 4 € cents per share)
Interim dividend 2.38 € cents per ordinary share, an increase of 4.8% (2016: 2.27 € cents)
EBITDA €22.0 million, an increase of 23.4% (2016: €17.9 million)
OPERATIONAL HIGHLIGHTS
Total sales volume increase of 7.3% to 5.7 million 9 litre cases (2016: 5.4 million)
Poland top line and profit growth; increased market shares since December 2016
Over €2.5 million of savings recorded in the period from initiatives implemented in 2016
Restructuring of operations and legal teams expected to generate incremental savings of €1.5 million from the start of next year
Investment in high growth, high margin, category of Irish whiskey through an equity investment - the Company's second bolt-on deal in nine months
New distribution arrangements in place with Synergy in Bosnia and Croatia, Distell in the UK, and Beam in Slovakia
Mirek Stachowicz, CEO of Stock Spirits Group, commented:
"We are pleased to have delivered good financial and operational progress during the first half of the year. This performance is a clear sign that the business has stabilised and that the initiatives put in place in 2016 are beginning to deliver tangible results including in Poland. While our core markets remain competitive, we believe that our strategy of further developing our existing brand portfolio whilst continuing to invest in markets and categories with strong potential leaves us well placed to continue delivering long-term and sustainable growth. As always, I would like to thank all of Stock Spirits' employees for their hard work and commitment in helping us to deliver the plans and ambitions that we have for this business."
