OREANDA-NEWS JSC Kizlyar Cognac Factory (KKZ) in 2023 received a net profit under RAS in the amount of 770.655 million rubles, which is 35.7% more than a year earlier, according to the company's statements.

KKZ's revenue increased by 27.2% to 5.032 billion rubles.

Both of these indicators have become record-breaking for the company. The previous best result for net profit was achieved in 2016, when it amounted to 652.246 million rubles. In terms of revenue, the best indicator was for 2022 - 3.956 billion rubles.

According to the reports, in 2023, the cost increased by 30.4%, to 3.959 billion rubles, gross profit - by 16.6%, to 1.074 billion rubles. Profit from sales amounted to 610.04 million rubles (an increase of 11%), profit before tax - 991.779 million rubles (an increase of 35.6%).

Accounts payable for the year increased from 1.724 billion rubles to 2.494 billion rubles, accounts receivable - from 1.409 billion rubles to 1.97 billion rubles.

Earlier, KKZ CEO Yevgeny Druzhinin told Interfax that production by the end of 2023 increased by 16%, to 1,032 million decaliters (dal), sales - by 19%, to 1,048 million dal.

The plant was founded in 1885. In February 2018, FGUP Kizlyar Brandy Factory was transformed into a joint-stock company, 100% of whose shares are federally owned.