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WaverleyTBS improves profits despite revenue drop

28 May 2012 by
WaverleyTBS improves profits despite revenue drop

Drinks supplier WaverleyTBS, saw profits for the year to December 2011 improve by 5.5% despite an 11.6% fall in revenue to £309.4m.

The company. which holds several national supply contracts across the hotel, restaurant and pub sectors, including Merlin Entertainments, Côte and Bill's Restaurants, made a pre-tax profit of £4.2m, helped along by cost efficiency savings, reducing overheads by £9m compared with 2010. It also showed double-digit growth in the free trade sector in the last six months of the year.

Jeremy Blood, executive chairman at WaverleyTBS, said: "These annual results demonstrate a strong performance. WaverleyTBS is back on course, winning with customers, managing costs and delivering profit growth.

"We are now well positioned with a long-term sustainable platform for growth and will continue to strengthen the business and look for new opportunities in the market."

WaverleyTBS moves back into black after head count and depot cuts >>

Heineken profits rise 40% in UK despite falling beer volumes in Europe >>

By Neil Gerrard

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