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Britvic Reports 16.5% Revenue Increase In First Quarter

By Donna Ahern
Britvic Reports 16.5% Revenue Increase In First Quarter

Britvic has reported a 16.5% increase in revenue in the first quarter, due to ‘strong demand for its portfolio of trusted family favourite brands across all channels and markets’.

According to the soft-drink maker’s latest financial results, sales totalled €447.9 million (£373.9 million) in the quarter – a 14.0% increase on a reported basis, and 12.8% higher than the corresponding period prior to the pandemic.

This was led by the UK and Ireland, which delivered revenue growth of 17.1%, with the at-home channel continuing to grow and out-of-home recovering in line with expectations in October and November, Britvic noted.

Out-of-home trading in December was impacted by changes in consumer behaviour and a downturn in socialising in the UK and Ireland due to the Omicron COVID-19 variant, the trading update shows.

Trading Update And Outlook

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With the announcement last week of the easing of restrictions across the UK and Ireland, the company noted that it anticipates that the out-of-home channel will continue its recovery back towards 2019 levels.

Brazil and other international markets grew their revenue by 8.7% and 17.9%, respectively.

The Ballygowan and Robinsons owner noted that it is experiencing inflationary pressures across the business.

However, it remains focused on minimising the impact on its business through a combination of revenue management, smart procurement, and disciplined cost control.

Simon Litherland, chief executive, commented, “We remain confident in our growth strategy, backed not only by our market-leading brands and our highly engaged employees, but also by our proven track record of successfully navigating headwinds.

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“While we continue to experience inflationary pressures, our focus remains on minimising the impact on our business, and I am confident we will continue to make progress this year and deliver strong returns for our shareholders,” Litherland added.

© 2022 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more A-brand news, click hereClick sign up to subscribe to Checkout.

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