CZG reports record results in 2021, expects further growth in revenue

Czech small arms manufacturer CZG Česká zbrojovka Group SE (CZG) registered CZK 10.7 billion worth of revenues in 2021, a year-on-year increase of 56.7 percent, the Czech News Agency reported on Thursday. CZG’s net profit after tax rose to CZK 1.161 billion, 71.6 percent higher than in 2020. The company has said that it expects further growth in revenue this year. It has also announced that it will change its name to Colt CZ Group.

CZG Chairman of the Board Jan Drahota said that the company achieved record results in 2021. This, he said, was thanks to a rise in sales across all regions as well as thanks to the acquisition of US small arms producer Colt and the consolidation of its revenues into the wider CZG business plan.