Coco-Cola Incurs Loss of €3.4 Million In Ireland
Published on Oct 15 2013 9:00 AM in Drinks
The Coca Cola business in Ireland has incurred pre-tax losses of €3.4 million. This came before Coca- Cola HBC Ireland Ltd announced in January that it would introduce a voluntary redundancy program, resulting in 75 job losses.
The losses last year of €3.4 million follows profits of €18 million in 2011 — a major loss of €21.4million.
A note attached to the accounts states that the redundancy programme is also a means to boost the company's cost structure which set the firm back about €5.6 million.
The Coca Cola company suffered the losses after revenues decreased by €18.3 million from €186 million to €167.7 million in the 12 months to the end of December 2012.The firm did not pay a dividend last year after paying out a dividend of €19 million in 2011 and dividends of €12 million in 2010.
The figures show that the numbers employed last year was reduced from 419 to 382.
Coca Cola in Ireland markets almost 20 brands, including Fanta, Sprite, Lilt and Dr Pepper.