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Cost of Britvic Product Recall Increases

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Cost of Britvic Product Recall Increases

Cost of Britvic Product Recall Increases
July 12
11:39 2012

Britvic’s recall of all Robinsons Fruit Shoot and Fruit Shoot Hydro packs featuring the new design cap is now expected to adversely impact on group profit before tax by between £15 million and £25 million across the current and next financial year. This includes an anticipated impact in the 2013 financial year of between £5 million and £7 million. There will be an additional negative impact on working capital which will reverse in 2013.

Britvic initially estimated that the recall would adversely impact profit before tax by between £1 million and £5 million in the current financial year.

In May Britvic reported that the UK soft drinks market and the group’s trading had been adversely affected by poor weather conditions and weak consumer sentiment. Since then trading conditions have not improved and Britvic now expects to deliver a result for the current financial year that is at the bottom end of market expectations, before taking account of the impact of the Fruit Shoot recall.

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