(Adds details, background, CEO comment)
Dec 2 (Reuters) – Vodka maker Stock Spirits posted a higher annual core profit and proposed a special dividend on Wednesday as people staying at home due to the COVID-19 pandemic drove demand, supported by staycations-driven consumption boost during the summer.
The maker of 1906, Stock Prestige and Vodka No.1 said adjusted earnings before interest taxes depreciation and amortization rose to 71 million euros ($85.78 million) for the year ended Sept. 30 from 67 million euros a year earlier.
Stock Spirits saw strong volume growth in both Poland and the Czech Republic, which account for three-quarters of the company’s revenue, as people stocked up alcohol during lockdowns.
However, sales of alcoholic beverages to bars and restaurants have been hit due to virus curbs, with the world’s largest spirits makers Diageo and Pernod Ricard warning of a sales hit a few months back.
Stock Spirits proposed