Lucozade supplier Suntory Beverage & Food GB&I successfully grew revenue and profits in a year blighted by supply chain issues and shortages, newly filed accounts at companies house have revealed.
Turnover at SBF GB&I in the year ended 31 December 2024 grew by 1.5% to £551m. Operating profits, meanwhile, climbed 14.0% to £122m.
SBF GB&I attributed the modest top-line increase to “focus on innovation, including new product launches, effective marketing campaigns and an increased demand for sports and energy drinks”.
In February, the supplier rolled out Blucozade – the first-ever cross-category innovation from its flagship Lucozade brand. It also extended into alcohol in by introducing Japanese RTD brand –196 in the UK.
However, SBF GB&I was also significantly impacted by shortages of both Lucozade and Ribena over the period. A combination of industrial action and a fatality involving a worker at its factory in Gloucestershire in the spring resulted in supply to trade being severely disrupted well into the autumn.
Lucozade – which was worst hit – recorded a £10.2m loss in 2024, after volumes dipped by 3.8% [NIQ 52 w/e 28 December 2024].
SBF GB&I’s performance remained resilient “in a year that continued to be shaped by high inflation, shifting consumer behaviours and operational challenges,” said finance director Michael Friel.
“We’re proud of the positive results we achieved in 2024 while absorbing significant cost pressures,” he said. “It’s a testament to the effectiveness of our strategy of long-term customer value creation and focus on efficiency… that has allowed us to invest in our brands and improve gross profit.”
An exclusive interview with SBF GB&I chief operating officer Elise Seibold will be available to read in this weekend’s edition of The Grocer
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