The company responsible for bottling and distributing Coca-Cola’s brands in Ireland saw pre-tax profits soar by 58% in 2016, newly-filed accounts show.
Reduced costs including an 8% reduction in the cost of sales to €96.7m led to Coca-Cola HBC Ireland generating an €11.3m profit in 2016.
However, the company which bottles and markets such brands as Coca-Cola, Diet Coke, Fanta, Sprite and Powerade for the Irish market saw revenues fall 3% to €162.28m during the year.
However, it still paid a dividend of €7m to its parent company.
The company now offers nearly 20 brands encompassing more than 40 products to Irish consumers and said it continues to broaden its footprint in the growth areas of juice, water, energy drinks and ‘wellness’ drinks.
During 2016 the company’s staff numbers fell by six to 300, with staff costs reducing from €20.1m to €19.3m.
The company’s revenues are made up exclusively from the sale of soft drinks in Ireland while it also provides “vending solutions”.
Accumulated profits for 2016 totalled €10m, while the company’s cash increased from €2.19m to €3.15m.
The latest accounts also show a post-tax profit of €9.85m, after the payment of €1.45m in corporation tax.
Operating profit for the year increased by 56% to €11.28m.
Coca-Cola first established a base in Ireland in 1952, while globally, the company’s products are sold in over 200 countries.
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