Fizz goes out of Coke profits

The fizz went out of the Irish arm of Coca-Cola’s pre-tax profits last year as they declined by more than €1m — or 12% — to €7.14m.

Newly-filed accounts show Coca-Cola HBC – which bottles the iconic brand for the Irish market - recorded the drop in profits as revenues remained flat at €167m. Some of the firm’s best known brands include Coca-Cola, Diet Coke, Fanta, Sprite and Powerade

The company last year paid a dividend of €7m and this followed a €5m dividend payout in 2014.

The group now offers almost 20 brands encompassing more than 40 products and the directors state, in the accounts, the group continues to expand the reach of established brands to consumers through the launch of new brand extensions and continued package innovation.

Numbers employed at the firm last year increased from 302 to 206 with staff costs reducing from €21m to €20m. The workforce at the firm has reduced from 382 since 2013. The firm’s headcount last year was made up of 222 in sales and marketing; 58 in administration, 25 in warehousing and distribution and one in production.

The profit last year takes account of non-cash depreciation costs of €1.9m and operating lease costs of €2.2m. Directors’ pay, including pension payments, last year reduced from €995,000 to €818,000. The firm’s revenues are made up exclusively from the sale of soft drinks in Ireland.

Accumulated profits at the firm last year totalled €10m. Its cash increased from €21,000 to €2.19m.

The filings also show that the company recorded an actuarial loss of €954,000 on its pension scheme last year. The company’s cost of sales last year remained static at €104m.

The firm recorded a post-tax profit of €6.1m after it paid tax amounting to €973,000. Its operating profits reduced by 15% to €7.23m.

Its cost of sales last year remained static at €104m with gross profit declining marginally from €63m to €62m.

The firm’s distribution costs increased from €12.5m to €12.6m.

Coca-Cola is the most widely distributed product on the planet and the Coca-Cola brand is worth an estimated $83.8bn which is more than Budweiser, Subway, Pepsi, and KFC combined.

Mexicans are the biggest drinkers of Coke in the world.

On average, Mexicans drink 745 Coke beverages a year. Americans drink 401 Coke products a year on average.


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