Frucor Beverages, producer of the energy drink V has hit back at claims made by managing director of Red Bull, Harry Drnec that V isn't performing "all that well" in New Zealand and Australia.

"In New Zealand V is the clear market leader with 70% market share both in grocery and in petrol stations. Sales per capita of V in New Zealand equates to over eight cans per head, almost three times that Red Bull's quoted three cans per head in the UK," said Frucor's managing director, Mark Cowshill, in response to an article featured by last week.

"The result in New Zealand was achieved in only three-and-a-half years where Red Bull has been in the UK for six years or more. The V market share in New Zealand is currently at an annual high.

"If V was to achieve a one can per head of population over the next two to three years in the UK this would generate revenues of NZ$80m-90m (US$34m-38.2m) which would not only bring substantial revenue growth to Frucor but also substantial profits," he continued.

However, Cowshill does agree with Drnec's comments relating to the potential of the UK market: "This is the very reason that Frucor is investing in the UK because it believes that substantial growth can be achieved over the short to medium term and the V brand has the potential to become the clear number two in that market," he added.