Revenues at the Irish arm of UK-based soft drinks group Britvic declined by 5.6 per cent in the year to the end of September, while operating profit fell 17 per cent.
The company's Irish division recorded revenues of £189.5 million over the 12 month period compared to £200 million a year earlier.
Group operating profit fell by 17 per cent from £14.7 million to £12.2million.
"In the extremely challenging macro-economic environment, the Irish soft drinks market shows no indication of a return to growth in the short term," the company said in a statement accompanying the full-year results.
Britvic remains the number one player in the Irish licensed trade and number two in grocery. However, it has experienced difficulties due to the recession. Earlier this year, it announced it was to make 145 people redundant as it closed its Cork, Ballyshannon and Waterford depots. The company also has operations in Limerick, Donegal and Belfast.
"Despite the trading conditions, Britvic Ireland continues to deliver on a synergy programme that was enhanced during the year. Total achieved cumulative synergies to date now amount to €15.3 million, with further planned synergies of over €9 million coming in 2010 and €2million in 2011," it said.
Britvic Ireland's parent said full-year profit rose 47.2 per cent forfor the year ending September 27th. Net income rose from £31.8 million to £46.8 million while revenue climbed 5.6 per cent to £978.8 million.
