Britvic after-tax profits jump 31% from 2012

Britvic, producers of Ballygowan has announced plans to merge its British and Irish business
Britvic, producers of Ballygowan has announced plans to merge its British and Irish business

Company announces interim results along with restructuring plan that will see Irish and British business merge

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23 May 2013

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Britvic plc has announced its interim results for the six months to the end of April. The drinks company had an increase of 31.4% in group profit after tax and exceptional items to £24.7 million. Revenue fell marginally to £639.2 million. The company also announced several upcoming initiatives aimed at growing the firm’s business and achieving annual savings of £30 million by 2016. Two factories in Britain and a warehouse in Northern Ireland are set to close along with the creation of a combined Ireland and Britain business unit under a single leadership team.

The changes will see its Ballygowan water become the only water brand Britvic supplies to the UK, replacing its other water brands, while production that currently is carried out in Britain will be transferred to the company’s facility in Thurles where Britvic has enormous spare capacity. As well as Ballygowan, Britvic counts the Club line of soft drinks and Robinsons fruit squash among its products.

The position of managing director for Ireland will be abolished and a "single leadership team" will take over Ireland and Britain. In a statement, company chief executive Simon Litherland said the move would lead to a "step change in performance and improved returns for shareholders."

 

 

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