max temp: 8°C

min temp: 7°C

ESTD 1874 Search

Essex: Fruit Shoot recall hits annual sales and profits at Britvic

08:39 27 November 2012

The recall of Fruit Shoot bottles earlier this year has hit annual sales and profits at Britvic

The recall of Fruit Shoot bottles earlier this year has hit annual sales and profits at Britvic

Archant Norfolk Photographic © 2007

SOFT drinks company Britivic confirmed a slide in profits today following the recall earlier this year of newly-designed bottles for its Fruit Shoot products.


Britvic, which also owns the Robinsons, J20 and Tango brands, reported a 19% fall in profits for the year to September 30 to £84.4million.

The decline relected a £16.9m hit to cover the cost of recalling bottles of the children’s drink and spin-off Fruit Shoot Hydro in July due to safety concerns over faulty caps.

However, Britvic, which recently agreed a £1.4billion merger with Irn-Bru owner AG Barr, said it was on track to achieve production levels in line with historical demand by January 2013 as previously hoped.

For the year to September, total group volume was 2.1bn litres, down 1.6% on last year, while revenue was 0.8% down to £1.3bn.

The reduction in revenue was also primarily due to the Fruit Shoot recall which hit the group’s still drinks performance in the UK, France and other International markets. The product recall impacted revenues by around 2%, Britvic said.

The fizzy drinks division in the UK, which includes a lincence to produce Pepsi products, was hit by greater competitive activity in the period. However, Britvic did increase its share of the soft drinks market.

Britvic, which recently relocated its head office from Chelmsford to Hemel Hempstead but still has a factory at Widford, just outside Chelmsford, and others at locations including Norwich, kept its full-year dividend unchanged at 17.7p.

It has also proposed a special interim dividend of 10p per share, conditional upon the merger with AG Barr becoming effective.

Paul Moody, Britvic chief executive, said: “This has been a difficult year for the group and the progress that we made was more than offset by the impact of the Fruit Shoot product recall.

“Additionally, the negative macro-economic trends, leading to weak consumer confidence and the cold, wet summer endured across most of our markets, weighed heavily on the soft drinks market and Britvic within it.”

The Britvic and AG Barr merger was agreed earlier this month and will lead to the creation of one of Europe’s leading soft drinks firms with annual sales of more than £1.5bn.

Britvic shareholders will own 63% of the new company, to be called Barr Britvic Soft Drinks, with AG Barr holding the rest. The deal is still subject to shareholder approval.

Wayne Brown, an analyst at Canaccord Genuity, said while the results from Britvic were ahead of expectations this “should not cloud what has been a poor year for the group”.



The Leading Lives team receive their tropy at the Social Enterprise UK Awards in London.

Ipswich-based Leading Lives has been named Health and Social Care Social Enterprise of the Year at the Social Enterprise UK Awards.

The Hot Off The Press premises inTacket Stret, Ipswich, which the company has vacated after 25 years.

A printing company which has operated from the centre of Ipswich for 25 years has relocated – to a purpose-built log cabin in the owner’s garden.

Elaine and Nigel Bowen of Vanguard Communications.

Two businesses which receive support from Suffolk enterprise agency Menta have received Small Business Sunday awards from entrepreneur and former BBC Dragons’ Den star Theo Paphitis.

Wayne Seddon from The Bridge House in London receives his Adnams Pub of the Year award from chief operating officer Karen Hester.

Southwold-based Adnams has named The Bridge House, near London’s Tower Bridge, as its Pub of the Year.

Georgi Rollings, left, and Emma Lawrence of Starfish Accounting.

An Ipswich based provider of online company secretarial software has reached the landmark milestone of having 10,000 users.

Robert Hughes, managing director of Hughes Electrical, and Andy Yallop, store manager, at the company's new branch in Bury St Edmunds.

Hughes Electrical has opened the doors of its new store in Bury St Edmunds following a £200,000 investment which has also created six new jobs, doubling the size of its workforce in the town.

A file picture of the Sanofi factory in Haverhill.

More than 50 jobs are to be axed at the Haverhill site of pharmaceutical group Sanofi.

Barclays has been fined £72m by the Financial Conduct Authority.
Photo: Jonathan Brady/PA Wire

Banking giant Barclays has been fined £72million by the City watchdog for failing to handle potential financial crime risks relating to a £1.88billion transaction for ultra high-net-worth clients.

Ipswich council leader David Ellesmere at the former sugar beet factory site off Sproughton Road.

A new Enterprize Zone involving 10 development sites across East Anglia, with the potential to create 18,500 jobs, was announced by Chancellor George Osborne today.

Natalie Moloney, of Woodbridge events firm Pink Lemonade Productions.

An entrepreneur is up for a fifth business award since her event planning company launched last year.

Most read

Most commented

Topic pages

Local business directory

Our trusted business finder

Property search

e.g. Oxford or NW3
Powered by Zoopla

Digital Edition

Read the East Anglian Daily Times e-edition today E-edition

Great British Life

Great British Life
MyDate24 MyPhotos24