Stock Spirits: Covid impact ‘less than anticipated’

Prestige vodka owner Stock Spirits said the impact of Covid-19 on the second half of its financial year was “less than initially anticipated” due to a strong off-trade performance. The Central and Eastern European drinks group provided a trading update for its year ending 30 September 2020 and reported that cash flow from operations for the year was “strong” and resulted in net debt of €23 million (US$27m), down from €55m (US$65m) last year. The…

Continue Reading →

Local brands may find pandemic easier to manage

Prestige vodka owner Stock Spirits believes local brands could be better positioned to weather the Covid-19 storm compared to international players. Earlier this month, Stock Spirits reported revenue rose 15% during the first half of its fiscal year due to stockpiling in Poland and the Czech Republic, plus a strong off-trade performance that was boosted by the Covid-19 lockdown. The group said its off-trade strategy – which accounts for around 85% of its business –…

Continue Reading →