Britvic Reports 4.8% Profit Increase In Interim Results
Britvic plc has reported a 4.8% profit after tax increase to £34.9 million, according to its latest interim financial results.
The groups organic adjusted EBIT (Earnings Before Interest, Taxes) increased 5.0% (reported +4.0%) to £83.7 million, for the 28 weeks ended 14 April 2019.
"I am pleased to report that we have delivered another strong performance in the first half of the year," Simon Litherland, chief executive officer commented.
'Growth In All Geographies'
Adjusted earnings per share increased 5.2% to 22.3p and the report showed that the groups interim dividend increased by 5.1%.
According to the financial report, the soft drinks manufacturer said that its organic brand contribution showed growth in all geographies.
"We have grown organic brand contribution in all our markets and increased group revenue, organic margin and adjusted earnings per share." Litherland added.
In Ireland, the group grew brand contribution and margin as we focused on disciplined revenue management activity, the report showed.
Reported revenue declined due to a fall in the sale of third-party alcohol brands through the Counterpoint wholesale division to the on-trade, it said.
'Across our own-brand portfolio we have focused on value ahead of volume, particularly for Ballygowan in the plain water category, and have also grown Pepsi and MiWadi,' the company said in a statement.
GB Soft Drinks Levy
Soft drinks levy in Great Britain has notably accelerated consumer trend towards its low/no sugar portfolio, the group highlighted in a statement.
"As we anticipated, the soft drinks levy has benefited our portfolio, accelerating the consumer trend towards our heartland of low and no sugar brands," he said.
"Pepsi Max has generated more incremental retail value than any other cola variant, while the rejuvenation of the Robinsons brand continued to deliver both significant revenue and squash category value growth."
Transformational Business Capability Programme
The groups Transformational Business Capability Programme is on-track, the group highlighted in the statement, which 'underpins long-term growth and cash generation.'
Looking ahead, Litherland said that its transformational business capability programme is nearing completion and forms an important part of its broader commitment to building a more flexible and sustainable business model.
"In the second half of the year we have a range of exciting marketing and innovation plans, and I remain confident that we will achieve full-year market expectations." He concluded.
© 2019 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.