Britvic profits surge despite Irish crisis

Robinsons: owner Britvic takes a hit
Robinsons: owner Britvic takes a hit

Britvic has reported a pre-tax profit leap of 21.5% to £109.1m despite writing down the value of its assets in Ireland by £104m.

The company, whose brands includes Robinsons, Fruit Shoot and Tango, reported revenue of £1.14bn in the 53 weeks to 3 October, up 14.6% on the year.

Paul Moody, chief executive, Britvic, said: "Britvic has again demonstrated its ability to grow the business despite the difficult conditions in the wider economy."

Moody attributed its performance to, among other things, its "strong delivery of innovation," adding that it was taking further steps to restructure its business in Ireland which would enable it to rebuild its "profitability".

He admitted that the company had been impacted by the Irish economic crisis, forcing it to writedown the value of its Irish assets.

Britivc launched Mountain Dew Energy in the UK in the financial period and in May it announced that it would be launching a claimed healthier brand extension of Fruit Shoot called 'My 5'.

Its earmarked international launches for 2011 include Fruit Shoot in Australia and Belgium and an extension of Fruit Shoot trials in the US.

The group's spend on sales and marketing rose from £899,000 £983,000 year on year.

Britvic said that it would continue to invest in "significant consumer promotional spend".

The company acquired Britvic France in a €237.0m deal in May of this year.

Its revenue jumped from 5.9% to 14.6% when the French business was factored in to its overall revenue.

Britvic bottles and distributes Pepsi and 7UP for PepsiCo in the UK.


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