April 14, 2016 / 6:35 AM / 3 years ago

Vodka maker Stock Spirits swings to profit in Polish market

April 14 (Reuters) - Stock Spirits Group Plc returned to profit in the first quarter in its key Poland market, with the group reporting a 29 percent jump in quarterly revenue.

The company reported core profits from Poland, which accounts for more than half its total sales, following a loss in the corresponding period last year.

The largest individual shareholder in Stock Spirits last week sought to remove the vodka maker’s chief executive and named its own nominees to the board to give the company “fresh perspectives” to tackle weakness in Poland.

The London-listed company, known for Czysta de Luxe vodka, said revenue rose to 55.3 million euros ($62.27 million) in the three months ended March 31, from 42.7 million euros last year.

$1 = 0.8880 euros Reporting by Aastha Agnihotri in Bengaluru; Editing by Sunil Nair

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