Britvic Posts 'Solid' Q1 With 3.3% Revenue Growth
Britvic today reports first quarter revenue of £337.2 million, an increase of 3.3% on the prior year, according to its quarter 1 trading statement, 24 December 2017.
“We have delivered a solid start to the new financial year, with group revenue growing 3.3% ahead of a strong first quarter last year.” Simon Litherland, Chief Executive, said.
The company combines its own leading brand portfolio including Robinsons, Tango, J2O, Fruit Shoot, Teisseire and MiWadi with PepsiCo brands such as Pepsi, 7UP and Lipton Ice Tea which Britvic produces and sells in GB and Ireland under exclusive PepsiCo agreements.
The soft drinks giant said that organic revenue, which excludes the Bela Ischia acquisition, increased 0.7%.
Britvic is an industry leader in the Ireland with brands such as MiWadi and Ballygowan.
It's owned-brand revenue also increased, due to positive price and mix, led by the stills portfolio.
In Ireland revenue increased 16.5%, benefiting from the acquisition of East Coast in the second quarter last year, which has 'improved it presence in the growing on-trade channel'.
Soft Drinks Levy
“We said at our preliminary results, that the introduction of a soft drinks industry levy in the UK and Ireland brings a level of uncertainty, but the business is well placed to navigate this given the strength and breadth of our brand portfolio and exciting marketing and innovation plans”. He added.
“In addition, our continued focus on revenue and cost management and the delivery of the final phase of our business capability programme means we remain confident of making further progress in 2018.” He continued.
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