SHARES in soft drink maker Britvic fell as much as 17 per cent yesterday, after it warned that the cost of product recalls announced last week could hit £25m.
The soft drinks producer recalled all bottles of Robinsons Fruit Shoot Regular, Hydro and Low Sugar after the children’s drinks were hit by manufacturing flaws following a recent and much-hyped redesign, with safety concerns raised over the possibility of the cap becoming partially or fully detached.
The company said yesterday: “It is difficult to be precise as to the full financial implications given the developing situation,” but suggested that the recall will cut between £15m and £25m from profit before tax across the current and next financial year.
The company also said yesterday that poor trading meant it expected to “deliver a result for the current financial year that is at the bottom end of market expectations before taking account of the impact of the Fruit Shoot recall”.
Shares closed down 13 per cent.