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Stock Spirits boosted by strong demand for flavoured vodka in Poland | City & Business | Finance

Stock Spirits boosted by strong demand for flavoured vodka in Poland | City & Business | Finance 46

Price reductions have also helped regain share in its key market after a price war left it reeling. 

Pressure from leading investor Luis Amaral, a cash-and-carry tycoon, led to boardroom changes and new management has overseen a 32 per cent rise in operating profit to €16.5 million (£14.9 million) on 3.3 per cent higher revenue of €119.8 million. 

Sales of flavoured vodka in Poland were up 7.7 per cent. 

Stock Spirits said in a statement to the media on Wednesday: “We have increased our volume and value market shares since December 2016 by 1.8 percent and 1.5 percent, respectively, to 26.2 percent and 26.9 percent as at June 2017.”

Chief executive Mirek Stachowicz, who took up the job in August last year, said in a statement: “It is very clear that the price gap in Poland grew and that cost us market share but now we have realigned pricing and it is more or less where we would like it to be.”

Shares rose 16¼p to 174½p.

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