Revenue at Britvic drops 8.4pc
Published 28/01/2011 | 05:00
THREE weeks after it announced it would cut 100 jobs at its operations here, Britvic Ireland has said that revenue for the first quarter fell 8.4pc year-on-year.
The company's Irish operations generated £42.1m (€48.9m) in revenue for the 12 weeks to December 26 compared to just under £46m (€53.4m) last year.
In a statement to the company's agm, chairman Gerald Corbett said the Irish market had improved somewhat but was still way off its previous highs. "Grocery volumes and value were up by 2.8pc and 0.7pc respectively, while the rate of decline in the pub and club channel slowed to a 7pc fall in both volume and value.
"In the quarter, we continued to focus on delivering the more appropriate go-to-market model," he said.
Last year losses in the Irish division drove the whole company into a loss. Britvic paid C&C €249m in 2007 for its soft drinks business.
Overall, the group recorded revenue of £288.2m (€334.7m) for the first quarter -- an increase of 20pc year-on-year, although revenue fell by 0.2pc excluding the recently acquired French business.