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Britvic Reports 'Robust' Third-Quarter Performance

By Dayeeta Das
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Britvic Reports 'Robust' Third-Quarter Performance

Soft drinks firm Britvic has reported revenue growth of 9.9% to £476.7 million (€557.7 million) in the third quarter of its financial year, driven by volume growth and a positive price/mix.

Britvic saw revenue increase by 10.1% year on year in Great Britain as a result of volume growth in both retail and hospitality channels, the company said in a trading update.

Its performance was also boosted by the impact of action taken to manage revenue growth in response to inflationary pressures.

Simon Litherland, chief executive officer commented, "Trading in the quarter has been strong, with revenue increasing 9.9%, driven by positive price/mix and volume growth.

"Consumer demand for our portfolio of leading family favourite brands remains buoyant ahead of the key summer trading period, as we continue to offer consumers great quality and value at affordable prices. We expect to deliver full year revenue and profit within the range of current market expectations."

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Divisional Performance

In Brazil, the company saw a revenue decline of 1.9% compared to the same quarter last year.

In the core soft drinks business, the division's positive price/mix continued to drive margin improvement despite having a small impact on volumes.

It also witnessed a continued reduction in exports from the Be Ingredient fruit processing business.

International revenue from other business units increased 13.3% year on year, with Ireland benefitting from positive price/mix and volume growth, while in France, strong price/mix more than offset soft volumes.

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The company expects full-year revenue and EBIT to remain within the range of current market expectations.

In the first half, the drinks group reported a 7.9% increase in revenue, to £794 million (€911.6 million), in what the group described as an 'excellent' start to the year.

Read More: Britvic Launches New €8m Sustainability Project

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