Q3 Interim Management Statement
Stock Spirits, a leading Central and Eastern European branded spirits producer, is pleased to provide its first Interim Management Statement since listing on the main market of the London Stock Exchange under the ticker (STCK). This statement covers the period since 30 June 2013 to date, including a review of the third quarter of the 2013 financial year.
- Performance for the 3rd Quarter slightly ahead of management expectations
- Volume growth of 6% in the quarter (versus Q3 2012)
- Continued market share growth in Poland and Czech Republic
- Second phase of the branded fridges project in Poland now underway
- Exclusive distribution of Beam brands in Poland commenced in September
- As announced separately today, exclusive distribution of Diageo brands in Czech Republic effective from January 2014
Christopher Heath, CEO of Stock Spirits Group, commented:
“It gives me great pleasure to update the market on our trading for the first time since the completion of our successful IPO.
Stock has enjoyed another very strong quarter’s trading with growth in volumes across clear vodka and other categories. The growth in premium brands has improved mix and underlying performance in the quarter is slightly ahead of management expectations. Given the good year to date performance, the Group is well placed to deliver full year results at least in line with management expectations. We are excited about what the future holds for the Group.
We are also delighted to announce that we have signed an agreement with Diageo for the exclusive distribution of theirpremium spirits brands in the Czech Republic, effective fromJanuary 2014. This allows Diageo to benefit from the strength of our leading distribution platform and complements our premium portfolio.
As outlined in the IPO prospectus, September also brought an announcement by the Polish Government of their intention to raise excise duty on strong alcohol by 15% from the 1st January 2014. Whilst the duty increase has not yet been confirmed by the Polish government, the company is making appropriate plans to manage such an impact, liaising closely with customers. ”
For further information
Stock Spirits Group: +44 (0) 1628 648 500
Christopher Heath, Chief Executive Officer
Lesley Jackson, Chief Financial Officer
Andrew Mills, Investor Relations Director
Bell Pottinger: +44 (0) 20 7861 3232