Britvic has revealed the prospect of hundreds of job cuts as the Competition Commission continues its probe into a proposed reverse takeover by Irn-Bru maker AG Barr.
The drinks firm best known for the Robinsons, Tango, J2O and Fruit Shoot brands, and as UK licensee for Pepsi unveiled a strategic plan as it announced interim pre-tax profits of £32.8 million after exceptional charges for the 28 weeks to mid-April.
The performance marked an increase of a third on the same period last year, as revenues held flat at just under £640m.
Newly-appointed CEO Simon Litherland said the improved results were achieved by cutting costs and increasing average prices.
He said the new strategy which proposes the closure of plants in Essex, Yorkshire and Northern Ireland, the loss of up to 500 jobs, and the combination of Britvic’s Irish and UK businesses into a single unit would “lead to a step change in performance and improved returns for shareholders.”
Competition authorities are expected to report on the abandoned Barr-Britvic deal in July.
