Restructure Proposals

RNS Number : 1672M

Britvic plc

23 January 2009

 



FOR IMMEDIATE RELEASE

23rd January 2009

Britvic plc ('Britvic')

Restructuring Britvic Ireland for Future Growth

Following an extensive strategic business review, Britvic Ireland today announced comprehensive proposals to restructure and right-size its operations on the island of Ireland. The proposed measures are designed to underpin sustainable business growth and enhance group integration. 

Therefore we are today commencing consultation with our staff which could lead to a reduction of up to 145 jobs within Britvic Ireland. The restructuring is not expected to be material in the context of market expectations for Britvic's earnings for the current financial year. 

Britvic will publish its first Interim Management Statement of the year on 28th January 2009, when further details of the restructuring will be available.

For additional information please contact:

Investors:
Craig Marks/Steve Nightingale	[phone]
Media:
Ireland: Pat Walsh (Murray Consultants Ltd)	+ 353 1 498 0300
UK: Tom Buchanan (Brunswick Group LLP)	[phone]

  Notes to editors

Britvic is one of the two leading branded soft drinks businesses in the UK and the Republic of Ireland. The Company is the largest supplier of branded still soft drinks, and the number two supplier of branded carbonates.

Britvic's broad portfolio of leading brands includes established names with high brand recognition such as Robinsons, Tango, J2O and Fruit Shoot. Included within the portfolio are Pepsi, 7Up, Gatorade, Lipton Iced Tea and V Water, which Britvic produces, markets, sells and distributes under exclusive appointments from PepsiCo. This brand and product portfolio enables Britvic to target and satisfy a wide range of consumer demands in all major soft drinks categories, via all available routes to market. 

Cautionary note regarding forward-looking statements

This announcement includes statements that are forward-looking in nature. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Except as required by the Listing Rules and applicable law, Britvic undertakes no obligation to update or change any forward-looking statements to reflect events occurring after the date such statements are published.

The effect of the transfer of Irish trade from Britvic International to Britvic Ireland in March 2008 has been taken account of in the financial performance of both entities, and both 2008 and 2009 numbers reflect this transfer. 

Stills and carbonates are defined as per the recategorisation described at the Britvic March 2008 investor seminar.

Reporting Periods

Britvic Ireland reports on a monthly basis in comparison to the rest of the Britvic group of companies which report on thirteen 4-week periods. There are no immediate plans to change this reporting structure.

 

END

 

 

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