Sumol+Compal reported a consolidated net profit (after non-controlling interests) of €10.5 million last year, which was a 24.7% increase on 2015 profits.
The Portuguese soft drinks, juices and nectars group achieved a turnover of €355.8 million, up 4.3% on the previous year.
The company achieved record sales in Portugal, with growth in the Juices & Nectars category reaching 19% by volume.
The value of sales and services in international markets reached €102.6 million (+2.9%).
Contributing to the positive performance was an excellent recovery in sales volumes in Angola, where a local plant was inaugurated in Q3 2016.
Overall, the Portuguese market for liquid refreshment beverages and bottled water grew 5.9% by value and 4.9% by volume compared to 2015.
The company expects that the soft drinks market in Portugal will be adversely affected by the application, from 1 February, of the Special Consumption Tax to beverages with added sugar or other sweeteners.
It says it expects to increase sales in international markets, but this growth is very dependent on the evolution of sales in Angola, its main international market.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine