Profits at Coca-Cola Ireland up 56% as cost of sales falls

Operating profit at Coca-Cola Ireland increased by almost 56 per cent in 2016 compared with the year before, according to the latest accounts filed with the Companies Office.

Coca-Cola Ireland is a subsidiary of the Coca-Cola Company and is responsible for marketing 20 brands across the island of Ireland.

Turnover for the year ended December 31st, 2016, was €162.3 million, which represented a decrease of 2.8 per cent on the €167 million the year before.

However, operating profit for the year at the Dublin-based company was €11.3 million, which was up almost 56 per cent on the €7.2 million the year before.

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The increase in profit appears to be related to a reduction in the cost of sales, which came down from €105 million to €96 million.

In terms of staff numbers, Coca-Cola Ireland employed 306 people for the year, up from 300 the year before. Most of these are based in sales and marketing positions.

Wages and salaries, including those of executive directors, totalled €16.4 million, which was down from €16.8 million the year before.