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."
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By Neil Gerrard
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