Britvic PLC’s Irish division has reported zero profits for the six months to April 12th, down from €4.8 million for the same period last year.
Irish revenue fell 13.8% although a weak pound saw a 1.6 per cent increase to £101.1 million when converted to sterling. The company said that it was well-placed to take advantage of the eventual upturn in the Irish soft-drinks market.
Britvic owns Irish brands Ballygowan, Club Orange, MiWadi and Cidona as well as Robinsons, J2O, Britvic and Tango. They also have the bottling and distribution contracts for Pepsi and 7UP for the UK and Ireland and Gatorade in Great Britain.
Sales of soft drinks in large grocery stores were up 4 per cent over the period while sales in the more profitable “impulse and licensed markets were down 15 per cent and 20 per cent”.
While announcing record profits for the Britvic group overall, the company noted that its sales in the Republic had been depressed by foreign exchange differences between the North and South, “with increased imported volumes from GB and Europe evident”.