Red Bull UK profits fallThis article was originally published in Foodnews
RED Bull UK saw its annual profits fall 44.2% to GBP8.7 million (USD13.9 million) in 2010.The company blamed the slump on economic conditions and increased competition in the energy drinks market. UK sales director Jamie Rake said: "It is a highly competitive market and it's important to get our share of space. That's the big challenge. It feels like the marketplace is more driven by promotion than ever before." Nielsen data shows Red Bull's sales increased by 5.2% to GBP200 million for the year to 19 March. However, it trailed Monster (Coca-Cola Enterprises), which grew 170% to GBP37.9 million, and Rockstar (AG Barr), which grew 49.2% to GBP12.6 million respectively.