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Another strong performance in a challenging market.
Stock Spirits Group (SSG or the Group), Central Europe’s leading branded spirits and liqueurs business, is pleased to announce its full year results for the twelve months ended 31st December 2011.
Profit growth against tough market backdrop
Margins improved in Poland and market leading positions maintained in key markets
Significant brand & NPD investment during the year to continue portfolio expansion
Successfully refinanced banking facilities, strengthening financial position
Remain focused on delivering Group growth in 2012
Chris Heath, Chief Executive Officer of Stock Spirits Group said:
“Against a very challenging market backdrop, I am delighted that we have been able to deliver another very strong set of results in 2011, continuing our unbroken record of profit growth each year. Faced with falling market volumes and significant input cost increases, it is important that we were well positioned to capitalise on the strength of our brands, taking the lead on market pricing and managing our product and marketing mix to deliver margin growth.
“We are particularly pleased to have maintained, and in some cases extended, the leading positions of most of our core brands in our key markets and have continued with our successful track record of launching new products. We will continue to focus on our marketing mix, maintaining our positive stance on pricing and leading the market with the development of our current and new brands.
“Despite the continued challenging market conditions, we remain confident that the Group is well placed to take advantage of opportunities to grow the business further in 2012.”
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