Australia looking good for Frucor

The company reported that sales of "V" are already ahead of budget, with December producing record sales and the energy drink grabbing a 50% share of the petrol station and convenience store market.

Frucor Managing Director, Mark Cowsill, says that the new distribution business will give Frucor the framework to build on the initial base established by Spring Valley.

At the beginning of December, Frucor confirmed plans to set up its own distribution network in Australia by purchasing the sales and distribution systems of juice company Spring Valley for A$1 million

Australia is seen as an important strategic market to Frucor, with beverage consumption seven times greater than that of New Zealand.

Investors have been following Frucor's overseas expansion plans closely - and with the company announcing its first half year revenue results next week, this announcement would seem to indicate that they may be reporting better than expected figures.

Frucor's share price, which has been languishing over the past month, jumped on the news and closed at $1.83, up 8 cents on the day.

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