Early UK Sales Figures Bode Well For Frucor
MEDIA RELEASE July 28, 2000
Early UK Sales Figures Bode Well For Frucor Beverages
Early indicative sales figures from some supermarkets and convenience stores in the UK show Frucor Beverages Group Limited's energy drink V is 10 percent ahead of company projections for the brand since its launch into the NZ$1 billion UK energy drinks market two months ago.
"Although these are indicative figures and only represent sales to some of our customers, they provide a positive indication of the company's future performance in this market," said Frucor Beverages' managing director Mark Cowsill.
"The figures demonstrate a very good week on week growth trend for V and show that the brand is already driving growth in the total UK energy drinks market," said Mr Cowsill.
"One retail chain has doubled its total energy drinks sales since stocking V. The brand has already become that chain's second top selling energy drink and has seized a significantly higher than budgeted market share. This gives us confidence V has a realistic opportunity of becoming the No.2 brand in the UK energy drinks category in the next 12 months.
"We attribute the early success of V in the UK to the quality and appeal of V and our strong distribution network through UK partner, Petty Wood & Co," said Mr Cowsill.
V already has listings in the UK with more than 40 leading retailers, wholesalers and forecourt operators including petrol giants BP, Shell and Total-Fina and leading grocery chains Sainsbury's Super Stores, Tescos, Waitrose and Safeways.
V was launched into the Republic of Ireland earlier this month. The Irish market is estimated to be worth NZ$119m at total retail.
V, an energy drink and dietary supplement containing Guarana and the B Group of Vitamins B2, B6 and B12, has enjoyed a meteoric rise since its initial launch in New Zealand in August 1997. It now holds more than 60 percent share of the energy drinks' category in New Zealand and in Australia. It was launched in South Africa in October 1999.
About Frucor Beverages
Frucor Beverages is a world-class designer beverage company. The company is the market leader in energy drinks in New Zealand and Australia, the market leader in the New Zealand juice and drinks category and is the second largest cold beverage company in New Zealand producing around 60 million litres per annum. Frucor Beverages has an annual turnover approaching NZ$184 million.
Frucor is listed on the New Zealand Stock Exchange (NZSE: FRU) and the Australian Stock Exchange (ASX: FRU).
With 25 projects under development, innovation in growth markets is a key element of the company's strategy to strengthen its leadership position in established markets and expand globally.
Within 12 months of being launched in Australia V has captured over 60 percent of the market share in the burgeoning energy drinks' category which increased threefold since the August quarter of 1999 and is currently valued at (Aus) $80 million. V was also launched in South Africa in October 1999 and into the NZ$1 billion UK energy drinks' market in May 2000.
The company's diverse and powerful portfolio of brands in New Zealand is concentrated on premium, high growth beverage categories. Products include leading energy drink V which has over 60 percent of the market share in New Zealand, fruit juices Fresh-Up and Just Juice - market leaders and New Zealand icons for more than 15 years - and popular brands such as McCoy, Citrus Tree, NZ Natural, H2GO and Kokomo.
Since November last year Frucor Beverages has also manufactured and distributed major brands in the carbonated soft drinks' market (the largest category in the New Zealand cold beverages' market), including the Pepsi range, 7 Up, Mountain Dew and Mirinda. Frucor Beverages now has around 10 percent of this market.