Lipton UK reports strong recovery in 2024
Drinks manufacturer Lipton UK reported a strong financial performance in the full year ending on 31 December 2024, according to a recent Companies House filing.
The business saw its annual turnover grow by 11.5% to £111.7m and recorded a profit of £6.2m, an increase from the £8.4m loss in 2023.
Lipton’s gross profit also increased to £47.5m, compared to £24.1m in the year prior.
The company attributed its success to a financial mitigation plan, which allows it to deal with supply chain disruptions globally, and credit risks within the company.
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Jonny Briscoe, Lipton Teas & Infusions, UK & Ireland general manager: “Our recent results reflect the significant transformation since our 2022 carve-out from Unilever and the July 2023 establishment of our standalone operational systems.
“This period involved substantial investment in manufacturing, production, and product development, alongside headcount adjustments. While these strategic initiatives have optimised our organisation for future success as a standalone business and are driving a more normalised, robust operational profit, they mean our current performance is not directly comparable to the previous year.
“Looking ahead, we are firmly focused on leveraging these significant investments. We’re already seeing positive momentum across our brands, with both PG tips and Pukka experiencing increased household penetration.”
Lipton was offloaded by its former parent company FMCG giant Unilever in 2021 and continues to operate a portfolio of brands including PG Tips and Pukka.
