Red Bull profits soar 35%

Red Bull profits soar 35%

VIENNA - Austrian energy drink maker Red Bull said it posted record profits of €501 million ($559 million) in 2015, an increase of 35%, according to the economics magazine Trend.

Red Bull's energy drink is sold in almost 170 countries.

The unlisted firm, which does not directly publish its figures, saw drink sales nudge up 6.1% to 5.96 billion cans, its turnover rise 20% to 3.2 billion euros, and operating income soar by 90% to 633.3 million, according to Trend.

Red Bull's bottom line was boosted by a cost-cutting programme and a weaker euro, the magazine reported.

Distributed in 169 countries, sales of the energy drink took off in several markets, including Turkey (up 25%), South Africa and Saudi Arabia (19%), India (18%), Poland (18%) and Germany (16%).

Forty-nine percent of the company is owned by Austrian entrepreneur Dietrich Mateschitz, who set it up in 1987, with the remaining 51% stake held by the Yoovidhya family, who own the patent to the drink.

Red Bull is a major sponsor of football, Formula One and extreme sports.

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