Poor weather this year had already hit their sales numbers and trading has not picked up in the last few weeks, considering the near constant rain. As such it was expected that the £96m company would see its full-year profits at the bottom end of expectations.
But that was before the product recall was taken into account. Due to a “packaging safety issue” Britvic last week issued the recall of all Fruit Shoot and Fruit Shoot Hydro drinks. Customers were told to return the product to the place of sale to receive a refund. Unable to enact a speedy response, the company have had to use an existing cap on its drink bottles in the meantime.
The delay in the new cap design for the recalled products has also led to a 16% drop in shares in the company.
In all, Britvic have estimated a loss of between £15m to £25m over the current and next financial year.