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Soft drinks giant Britvic sees profits tumble but sales up 1.2%

Britvic is planning to close its production in Norwich by the end of 2019 Credit: ITV News Anglia

Soft drinks giant Britvic which plans to shut its Norwich production plant and move to its other sites in London, Leeds and Rugby, has seen its full-year profits tumble.

The group which is behind Robinsons squash said pre-tax profits fell 9% to £139 million in the 52 weeks to October.

Profits were dragged down by Britvic's three year 'business capability programme which cost £24.7 million in the same period.

Revenues for the full year rose by 8% to £1.54 billion the firm said, selling more than 2.3 billion litres of soft drinks, an increase of 1.2%.

"While April 2018 brings uncertainty with the introduction of the Soft Drinks Industry Levy in GB and Ireland, we are well placed to navigate it thanks to the strength and breadth of our brand portfolio and our exciting marketing and innovation plans."

– Chief Executive Simon Litherland