Grupa Żywiec 2017 profit down

WSE-listed beer producer Grupa Żywiec posted a consolidated net profit of PLN 258.55 million for 2017, compared to PLN 272.57 million in 2016, the company stated. Operational profit stood at PLN 333.91 million (compared to PLN 327.88 million in 2016), while consolidated revenue reached PLN 2.23 billion down from PLN 2.39 billion recorded in 2016. “In 2017, beer sales in Poland fell by 3 percent in terms of volume compared to 2016 mainly due to bad weather conditions in the season and the lack of major sporting events, which had a positive impact on sales in the comparative period. As a result of unfavorable market conditions and the deliberate restriction of promotional activity in low-reactive sales channels, the Żywiec capital group sold 11,236 hectoliters of beer, which means a decrease by 3.9 percent compared to 2016,” CEO Guillaume Duverdier said.