PRAGUE, Sept 12 (Askume) – Czech firearms maker Colt CZ Group on Thursday reported a 41.2% rise in first-half revenue, helped by improving U.S. sales and the completion of the group’s acquisition of ammunition maker Sellier & Bellot.
Revenue climbed to 9.69 billion crowns ($425 million), and adjusted earnings before interest, tax, depreciation and amortization (EBITDA) rose 35.3% to 1.98 billion crowns.
The company said the second quarter was its strongest quarter ever.
However, net profit declined by more than 40% in the first half due to increased amortisation and depreciation related to the acquisition of Cellier & Bellot, as well as lower financial business income.
Colt CZ confirmed that its revenue is expected to grow by 48% to 20 billion to 22 billion crowns by 2024. Adjusted EBITDA is expected to grow by 54% to 4.7 billion crowns.
The company said it expects fourth quarter profit to be stronger than the third quarter.
(1 USD = 22.7990 CZK)
