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Aug, 21 2015

Vodka manufacturer Stock Spirits' first-half earnings drop

Stock Spirits said operating profit before exceptional costs knock down to 5.2 million euros i.e. $5.79 million for the six months ended June 30, from 23.2 million euros a year earlier.

Vodka maker Stock Spirits Group Plc said its first-half operating profit before items fell 78 percent as its Polish operations were hurt by aggressive pricing and loss of market share, reported Reuters.

Stock Spirits said operating profit before exceptional costs knock down to 5.2 million euros i.e. $5.79 million for the six months ended June 30, from 23.2 million euros a year earlier.

The company added it predicted that full-year earnings before interest, tax, depreciation and amortization to be between 60 million and 68 million euros.

It reported adjusted EBITDA of 66.4 million euros in 2014.  

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