Britvic Delivers Solid Performance Against ‘A More Challenging Backdrop’
Soft drink maker Britvic has reported third-quarter revenues of £360.1 million, a decrease of 1.5%, in three month period ending 7 July, and added that this figure does not include impacts from the sugar levies in Ireland and the UK.
The group saw its revenues grow in the UK, despite value and volume decreases, and its performance in France and Ireland remained more challenging with a further softening since the half-year.
Britvic’s operations international operations, Brazil in particular, continued to deliver solid revenue growth, the company said.
“Overall we have delivered a solid performance against a more challenging backdrop in quarter three,” Simon Litherland, Chief Executive, said.
“We remain confident of achieving market expectations for the full year, underpinned by the strength of our brand portfolio, exciting commercial plans and a tight focus on cost control.”
The soft drinks maker was initially boosted by the introduction of the sugar levies in Ireland and the UK, reporting in January that consumer demand for the brand’s low-sugar and fruit-based drinks was driving sales.
In the 28 weeks ending 14 April, the group’s HY 2019, Britvic reported a near 5% jump in profit after tax after the group focused on disciplined revenue management activity.
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click sign-up to subscribe to Checkout.