Lucozade Ribena Suntory reports rise in revenue
By Rob Freeman | 11th August 2020
Lucozade Ribena Suntory saw revenue rise to £425.6million during 2019, according to its newly published accounts.
That represented a 3.2 per cent rise for the drinks company, which has a manufacturing plant at Coleford.
Operating profits rose by 4.7 per cent to £73.1million as pre-tax profits were up 14.2 per cent to £69million.
Gross profits rose from £213.6million to £224.8million as administrative expenses were up £12.8million to £129million.
And the company's net assets at the end of 2019 were up £20million to £900.1million.
Ribena suffered a tough year, its value falling £24.7million to £121.4million but Lucozade added £12.4million in retail sales value to £436.5million.
Production continued at Coleford throughout the coronavirus pandemic, but director of quality, technical, environment, health and safety Keith Allen told Punchline-Gloucester.com the company had to adapt changes in shopping habits.
He said: "We have seen consumer habits changing over the period of lockdown with increased demand for larger pack formats, such as Ribena squash.
"We are quickly adapting to accommodate this shift, creating a wider range of 'drink later' formats - such as a multi-pack of Lucozade Energy cans - so people can more easily buy our drinks to enjoy at home."
The company employs 330 staff at Coleford, where it has invested £13million in its bottling line, out of a UK workforce of 705.
Finance director Conor Brew told The Grocer: "Like all businesses, ours has been impacted by the Covid-19 pandemic.
"Market dynamics have shifted dramatically and throughout lockdown we saw weaker footfall and fewer shopping trips as online shopping reached new heights and the weekly big shop returned.
"This did mean reduced demand for our impulse-occasion heartland, but we pride ourselves on being an agile business and worked round the clock to increase the availability of our Ribena and Lucozade drink-later portfolio."
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