Barry & Fitzwilliam ‘not in danger of loss-making’ despite slump in profits

THE Cork-based drink distribution company Barry & Fitzwilliam saw its profits fall by more than half last year, but claims not to be in danger of becoming loss-making in the foreseeable future.

The company – which has the Irish distribution rights for a number of leading international drinks brands including Corona beer, the liqueur Jagermeister, McGuigan Wines and Teacher’s whisky – made a pre-tax profit of €1.64 million in 2009, according to accounts recently filed with the Companies Office.

This was considerably down on 2008’s profit of €3.43m. Similarly, operating profit fell from just over €3.9m to €1.83m last year; while total revenue fell 12.6% to €72.5m.