Synergy increased sales by 20% for the 1st quarter of 2016
Synergy, Co. (MOEX: SYNG), the leading spirits group in Russia today announces operational results for the 1st quarter of 2016. According to the Company’s data, sales of its own products in the 1st quarter of 2016 amounted to 2,001 thousand deciliters, that represents 20% growth versus 1,675 thousand deciliters reported in the 1st quarter of 2015.
At the same time the Company increased the scale of its import operations. The growth amounted to 38% from 85 thousand deciliters to 117 thousand deciliters.
Commenting on the 1st quarter results, Synergy’s CEO Alexander Mechetin said: «The Company has shown positive operational results, increased sales by 20% in volume for the 1st quarter of 2016. This fact allows Management to make more optimistic forecast for the whole year.
In general, positive tendencies of the market in the 1st quarter are in many respects caused by fight efforts of the state authorities against illegal producers, which favorably influence activity of conscientious market players. The sales growth of the Company has been affected also by distributor’s stocks restoration. At the end of the previous year they kept stocks at minimum levels ahead of the Unified State Automated Information System’s implementation in a wholesale and retail chain.
In the 1st quarter of 2016 Synergy has also continued strengthening import operations on account of Company’s portfolio organic development and inclusion in it new premium categories».