UK: Stock Spirits set fair for 2013, but Polish bump ahead for 2014
Stock Spirits is braced for a hit from Poland in 2014
Stock Spirits has said that it expects its full-year performance for 2013 to come in “in line with management expectations”.
The company, which was the subject of an IPO by owner Oaktree Capital Management late last year, issued a pre-close trading statement earlier today (28 January). “Given the strong Q4 performance,” said CEO Christopher Heath, “the group is well placed to deliver full-year results in line with management expectations.
“We remain excited about the group’s opportunities for future growth in Central and Eastern Europe.”
Stock warned, however, that the introduction of a 15% increase on excise duty for strong alcohol in Poland at the beginning of this year will hamper performance in 2014.
“As expected,” the company said, “the impact … of the duty increase will have been to increase reported sales and EBITDA in 2013 and to reduce reported sales and EBITDA in 2014.”
Stock will release its preliminary results at the end of March.
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