Dutch drinks manufacturer Refresco sold 6.4 % more drinks in the past quarter, mostly thanks to excellent weather in major parts of Europe.
Lower profit margin
Total turnover grew 1.8 % to 539 million euro, which is a relatively low turnover growth because it mostly sold more carbonated drinks and water, two product ranges that have a smaller profit margin than juices and energy drinks.
This is also why the profit margin will be slightly lower than last year as the company also struggles with the stronger dollar. It buys certain ingredients in dollars, which damages its profit margin although it charges the customer for the majority of the additional costs. Net profit more than doubled, from 12 to 27 million euro. Last year's profit did suffer from the Gerber Emig acquisition and its IPO.
In the first 9 months of 2015, there was a 3 % volume growth, a number that will slightly drop for its full-year results as there were fewer orders than expected at the start of the quarter.