Soft drinks company Britvic has reported a 11.6% fall in its profit after tax for the year to the end of September, despite a jump in its revenue.
Britvic, whose brands include Ballygowan, MiWadi, Club, Cidona, TK, Robinsons and Fruit Shoot, blamed the cost of a pension-related adjustment - which pulled profits to £124m from £140.2 the same time last year.
Overall revenues for the year were up 8.1% to £1.75 billion, while its revenues in Ireland rose by 9.4%.
It noted standout performances from Tango and Pepsi MAX during the year and also said that it successfully managed the inflationary environment during the year.
Britivic said its full year dividend increased by 6.2% to 30.8 pence, which it said reflected the Board's confidence in its prospects and strong balance sheet.
It said that demand for its soft drinks remained strong during the year, with a modest volume decline due to a tough fourth quarter of its fiscal year which compared to the hot summer in Europe in 2022 and poor weather in July and August of this year.
Simon Litherland, Britvic's chief executive, said the the company delivered another set of "excellent results", making strong progress across its People, Planet and Performance measures.
"We have continued to invest across our supply chain, adding capacity and upgrading technology, while also building our brands and portfolio, including the acquisitions of Extra Power in Brazil and Jimmy's Iced Coffee in Great Britain," the CEO said.
"Looking ahead, we have clear strategic priorities for 2024 and an exciting programme of marketing and innovation launches coming to market," he said.
"I am confident Britvic will continue to make excellent progress next year and beyond, delivering growth and creating value for all our stakeholders," he added.
Britvic Ireland is one of the oldest soft drinks companies in the world and remains the only large-scale soft drinks manufacturer here.
It employs 360 people across the island of Ireland, including at its Kylemore Road manufacturing plant in Dublin and its Newcastle West bottling plant in Limerick.
