Frikkee hit as Britvic shares plunge 17%

Managers including Newton's Tineke Frikkee were among those hit as Britvic's shares fell as much as 17% yesterday, as the company revealed the recall on its popular Fruit Shoot drinks will cost up to £25m.

A trading update, following last week's recall, also said a new cap design will take weeks to manufacture, meaning they will be unable to produce the normal volumes until the winter months. Britvic shares dropped as much as 17% yesterday but closed the session down 14.07% at 257.96p. In the past month, shares have fallen 19.56%, hurting owners such as Frikkee, manager of the £2.2bn Newton Higher Income fund. As at 31 May 2012, the fund held 1.37% of all Britvic stock, or 3.30 million shares. Franklin Templeton's Paul Spencer also owned 1.03% of the beverage producer through his £60...