Drinks group Britvic has posted a 7.3% increase in first quarter revenue, to £411 million (€467.3 million), on a constant currency basis (reported +9.9%), which the group said was driven by higher price/mix.
This was partially offset by an 'anticipated volume decline', the British firm said.
'Strong' Christmas Trading
Christmas trading was described as 'strong', with December revenue up 9.0%, led by its core Great Britain market, which was up 13.8%. For the quarter, GB revenue rose by 9.8%, driven by both retail and hospitality.
On an international basis, the group saw a 'modest decline' in revenue in Brazil (-0.4%), while 'other international' was up 3.5%, driven by Ireland, where it owns the Ballygowan and MiWadi brands.
France was 'broadly flat', the soft drinks maker added, with price/mix growth offset by a volume decline.
“Our performance in the first quarter was robust and in-line with our expectations," commented chief executive officer Simon Litherland. "We have continued to take decisive action to mitigate the impact of cost inflation with disciplined revenue management and a relentless focus on cost efficiency, to protect profit and margin."
Litherland added that the group has "strong plans" in all its markets and categories, "including a brand refresh for Robinsons, pack and flavour innovation, as well as exciting marketing campaigns.
"Britvic is a well-invested business, with an agile supply chain and a capable and highly engaged team, which positions us well for the future.”
© 2023 European Supermarket Magazine – your source for the latest A-Brands news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.