The final payout was bumped up 7% to 6.78 €cents per share, while the board also proposed a special dividend of 11 €cents per share to return surplus cash.
The owner of 1906 vodka and Napoleon Ambassador brandy expressed confidence on its outlook and said Brexit is not expected to cause a material impact on trading, while it is eyeing mergers and acquisitions as “conditions permit”.
However, it has prepared potential commercial and operational actions to mitigate the possible impact of a new law in Poland.
The European country is implementing additional taxes on small format pack sizes of under 300ml of alcoholic products, starting in January.
In the year to September 30, revenue jumped 9% to €341mln while volume advanced 3% to 14.8mln nine-litre cases.
Adjusted underlying earnings rose 6% to €71mln and net debt was cut by 59% to €22mln.
The drinks producer benefitted from its off-trade focus during lockdowns, with shops and restaurants accounting for only 15% of total revenues, while it does not rely on duty-free channels.
The portfolio of local brands performed very well as consumers reverted to familiar and trusted brands in uncertain times, especially during the summer ‘staycations’.
However, the Italian and Croatian markets suffered the most severe impact because they are heavily reliant on tourism and on-premise consumption.
Shares ticked 5% higher to 254p on Wednesday at the opening bell.
Published at Wed, 02 Dec 2020 08:15:00 +0000-Stock Spirits proposes special dividend after defensive full-year