The state-owned enterprise Ukrspyrt increased net profit 1.6 times, up to UAH 28.1 million, in January-September 2020 compared to the same period last year.
According to acting director of the state-owned enterprise Ukrspyrt Serhiy Bleskun, alcohol production increased by 19.6% up to 4.72 million decaliters in the nine months this year.
“We have a great trend since 2019, but the pace in the third quarter has slowed down. This was influenced by such objective factors as demonopolization (since July 1, buyers can buy alcohol from other state-owned producers) and the rise in the price for raw materials such as maize and wheat. This led to deterioration in profitability in the third quarter,” Bleskun wrote.
He also noted that over the past two weeks, the State Property Fund (SPF) has privatized three objects of the state-owned enterprise Ukrspyrt totaling almost UAH 160 million.
As reported, President of Ukraine Volodymyr Zelensky on December 11, 2019 signed a law on the abolition of state monopoly on alcohol production from July 1, 2020, adopted by the Verkhovna Rada on December 3, 2019.
The State Property Fund expects to attract about UAH 2 billion from the privatization of alcohol producers of the state-owned enterprise Ukrspyrt and the concern Ukrspyrt. The first auction is scheduled for October 15, 2020.
