Britvic admits Robinsons recall will cost up to €19m
Soft drink maker Britvic says it has been unable to speedily resolve the issues with new caps used in its Robinsons Fruit Shoot and Fruit Shoot Hydro packs, and the impact of the product recall would be greater than previously estimated.
Britvic issued the recall last week after ongoing tests had identified some damaged caps, which may come off the soft drink packs.
The company’s Irish arm said there was no product recall in the Republic as a different cap was used for the product sold here.
The company also said its full-year results would be at the lower end of market expectations.
Britvic is expected to resupply customers in six weeks with packs using the alternative cap, and a gradual increase should see it meeting previous levels of demand within six months.
The recall is expected to hit pretax profit by between £15 million (€19 million) and £25 million for the current and next financial years.
The company said last week that it expected the recall to cut profit before tax by £1 million to £5 million for the current fiscal year. – (Reuters)