Red Bull sales spike ahead of England ban
Sales of Red Bull have spiked ahead of a planned new law in England to ban energy drinks being sold to under 16s.
The giant has reported a UK revenue of £668.3m for 2024, up from the £594.1m it achieved in 2023.
New accounts filed with Companies House also show that its pre-tax profit rose from £49.1m to £54.9m over the same period.
Red Bull said its market share in the UK grew by 1.7 per cent to a record 36.8 per cent.
In September, the government said it was working on a new law for England which would ban the sale of energy drinks such as Red Bull, Monster and Prime to under 16s in shops, restaurants, cafes, vending machines and online.
A 12-week consultation as launched to gather evidence from health and education experts while the views of the public and retailers and manufacturers who already ban the drinks are also being sought.
Health and Social Care Secretary Wes Streeting said last month that while no official date has been set for the ban, it could come “a lot sooner” than the end of this parliament.
Red Bull rival Prime suffers dramatic slump
In June, CityAM reported that Prime, the energy drink brand backed by Logan Paul and KSI, suffered a dramatic fall in its UK sales in 2024.
Accounts for Prime Hydration’s UK arm showed the firm’s turnover was slashed by more than 70 per cent from £112.2m to £32.8m in its latest financial year.
Its pre-tax profit was also cut from £4.3m to £940,458.
As a result of its falling sales, the London-based subsidiary said it had launched a strategic review to work out how to be sustainable in the future.
Prime was launched in the UK in June 2022, having first been available in the US from the January of that year.
There was considerable hype around the launch given the involvement in YouTubers Logan Paul and KSI in the business.
The latest UK accounts for energy drink brand have not yet been filed with Companies House.
For 2023, the firm’s turnover totalled £283.5m, up from £224.5m, while its pre-tax profit dipped from £8.1m to £7m.