Żywiec H1 profit inches up

Image : By LeeKeoma - CC, https://commons.wikimedia.org/w/index.php?curid=19474721
Image : By LeeKeoma - CC, https://commons.wikimedia.org/w/index.php?curid=19474721

WSE-listed beer producer Żywiec, subsidiary of Heineken, had a PLN 134.8million net profit in H1, up by 3.7 percent y/y. Revenues amounted to PLN 1.13 billion, down by 10.4 percent y/y. In the first six months of the year, Żywiec sold 5.6 million hectoliters of beer, compared to 5.8 million last year. “As a result of a deliberate reduction in promotional activity, particularly in the discount segments and as a consequence of an increase in average revenue per hectolitre, the group’s beer sales volume in the first half of 2017 was 3.4 percent lower than in June 2016. The relative decrease in net income from sales also resulted in the sale of distribution company Distribev in February 2016,” Żywiec said in a market filing.

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