Britvic hammered by recall and weather
Britvic said the recall of its Robinsons Fruit Shoot and Fruit Shoot Hydro drinks could cost the company up to 25 million pounds.
Britvic said the recall of its Robinsons Fruit Shoot and Fruit Shoot Hydro drinks could cost the company up to 25 million pounds.
Added to this, poor weather conditions and weak consumer sentiment means the group now expects to deliver a full year results at the bottom end of market expectations - before taking account of the impact of the recall.
Britvic said it had been unable to quickly resolve issues around a newly designed cap on Fruit Shoot, a popular children's drink.
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The bottles were recalled last week "as a precautionary measure...due to a packaging safety issue" the company said at the time.
It will now take Britvic six weeks to start re-supplying customers and up to six months to get distribution back to full speed.
"We believe this will now have an impact on the group profit before tax in the region of £15m to £25m across the current and next financial year," the company said.
"This includes an anticipated impact in 2013 financial year of between £5m and £7m."
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