Coca-Cola Ireland Records 56% Increase In Operation Profits
Coca-Cola Ireland’s operating profit grew by 56% to €11.3 million in 2016 year-on-year, according to reports by The Irish Times.
However, the drinks company recorded a decrease in turnover of 2.8% to €162.3 million in the year ending on 31 December 2016, down from €167 million the year before.
The increase in operating profit was up from €7.2 million the year before, which is related to company's reduction in sales cost, down 8.6% from €105 million to €96 million.
The company is a subsidiary of the Coca-Cola Company and markets 20 brands across the island of Ireland, which includes Coke, Fanta, Sprite, Powerade and Fuze Tea, launched at the beginning of this year.
The Irish subsidiary employed 306 people for 2016, up from 300 the year before, with most of them based in sales and marketing roles.
Total wages and salaries, including those of executive directors, were down 2.3% in 2016, from €16.8 million the year before to €16.4 million.
© 2018 - Checkout Magazine by Kevin Duggan