A BELFAST-based drinks distribution company boasting a portfolio of more than 1,000 spirit, wine, beer and soft drink brands saw its turnover slip back slightly in the last trading year, but it still doing more than £1m of a business a week on average.
Drinks Inc Ltd on Boucher Road, which has grown rapidly since being set up in 2001 by owner Paul Camplisson, had sales of £51.2 million in the year to last March compared to £53.9m in 2014, which it blamed on "difficult market conditions and increased competition".
The company's gross profit fell from 11.06 per cent in 2014 to 10.43 per cent (£5.96m yo £5.3m) in its latest trading year, which Drinks Inc said was the result of continued changes in its sales mix.
Distribution expenses increased by £58,166 over the year, though administrative costs came down by more than £108,000.
Overall operating profit decreased from £2.4m to £1.9m, while a review of the company's investment properties resulted in a write down of £528,964.
But in a strategic report accompanying its financial report filed with Companies House, the directors say they intend to expand the company's products and customer base, thereby increasing turnover and profitability.
Drinks Inc is one of the largest and fastest growing independent drinks distributors in Ireland.
Its portfolio includes many specialist products and a growing number of quality brands for which it is the exclusive agent from premium producers like Treasury Wine Estates and wineries such as Vina Maipo, Vina Maycas, Vina Palo Alto and the UK's number one brand Isla Negra.
Its direct sales team has strong relationships with more than 1,200 direct customers across all trade channels and has many years of combined experience gained with global drinks giants like Diageo, Inbev and Anheuser Busch.
Its financial return showed that Drinks Inc had 103 employees on its books (up from 96 staff a year earlier), which meant its wages bill rose from £1.69m to £1.75m).
The two main company directors took a sizeable cut in their benefits package over the year - down from a combined £243,554 to £176,304.
Meanwhile on Thursday night services union Siptu said it was seeking an urgent meeting with Drinks Inc over what it claims is a threat by the company to make 12 workers redundant at its Boucher Road distribution depot.
Siptu organiser Niall McNally, who sent a letter to the company on Wednesday, said staff were shocked and "feel betrayed" at the announcement that the company intends to implement the redundancies.
He said: "This company took on extra staff, on a temporary basis, during the Christmas period to meet increased demand.
"What workers cannot now comprehend is why such a drastic reduction to core staff numbers is now being considered, and there is also concern that the remaining staff would be unable to fulfil their duties if the proposed redundancies were carried out.”
He added: “Staff are also angry about the manner in which notification of the company’s plan to implement these job losses was delivered to them in an impersonal letter at the end of their shift on Tuesday. They are dismayed that after many years of loyal service the company sees fit to treat them with such disregard."
Siptu is urging the company’s managing director Paul Camplisson to immediately engage with them to explore alternatives to the job cuts.
