Drinks supplier WaverleyTBS has moved back into the black with a £4m pre-tax profit before exceptional items for the year to December 2010.
The performance compares with a £0.9m pre-tax loss in 2009.
The firm closed 10 distribution depots in the year and reduced its head count by 300 people compared with 2009.
WaverleyTBS was sold by Heineken UK and into new private ownership under Manfield Partners and management in June 2010.
Managing director Jonathan Townsend said: "We all know the on-trade market continues to be difficult with CGA predicting a further decline of 5-7% this year. WaverleyTBS will continue to look at ways of improving our business through further developing and strengthening our service and product offering to our current and potential customers.
"We have a number of new initiatives and investments planned in 2011 including a fully upgraded systems infrastructure to support our business growth and exclusive distribution/agency relationships with premium brands."
By Neil Gerrard
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