Suntory Food & Beverage ends year on a high note
Suntory Food & Beverage Limited, reported its full year results, with sales increasing 2.1% to ¥1.4 trillion yen ($12.3bn).
The maker of Lucozade and Ribena said it achieved higher revenue growth as a result of aggressive marketing and cost reduction initiatives it carried out on its main brands.
In Europe, it implemented proactive marketing on its key brands such as Orangina, Oasis, Schweppes, Lucozade and Ribena. The soft drinks giant said its zero-calorie Lucozade zero in the UK achieved higher sales performance due to the initiatives it took. It notes that Lucozade and Ribena in the UK outperformed previous fiscal year’s result.
In Spain, the group continued to promote cooperation with PepsiCo, Inc, its business partner.
Suntory acknowledged it acquired the Lucozade and Ribena brands in Nigeria from GlaxoSmithKline Consumer Nigeria Plc (“GSK Nigeria Plc”) in order to strengthen its business in the country.
Similarly, in Oceania, the company launched V Pure, an energy drink, as it worked to expand its sales.
And in the United States, it worked to strengthen sales of PepsiCo brands under its care in the state of North Carolina. It also worked to improve operational efficiency by reconsolidating distribution centers. Furthermore, it launched hydrating beverage OVI in the country.
While parent company Suntory Holdings saw sales dip 1.3% for the year to ¥2.7 trillion yen ($23.63bn) due to what it described as adverse currency impact, net income for Suntory Food and Beverage Limited rose 2% to ¥113bn yen ($994m), from ¥110bn ($968m) in the previous year.