PRAGUE (Reuters) – Czech gunmaker Colt CZ Group posted a 41.2% rise in first-half revenue on Thursday as U.S. sales recovered and the group completed its acquisition of ammunition manufacturer Sellier & Bellot.
Revenue climbed to 9.69 billion crowns ($425 million) while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 35.3% to 1.98 billion crowns.
The company said the second quarter was its strongest in history.
Net profit fell more than 40% in the first half, however, due to increased amortisation and depreciation related to the Sellier & Bellot acquisition, along with lower income from financial operations.
Colt CZ confirmed its outlook for revenue to grow as much as 48% in 2024, to between 20.0 billion and 22.0 billion crowns. Adjusted EBITDA should rise as much as 54% to 4.7 billion crowns.
It said it expected its fourth-quarter earnings to be stronger than the third quarter.
($1 = 22.7990 Czech crowns)
(Reporting by Jason Hovet; editing by Jason Neely)
