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Britvic Sees Revenue Up 4.9% In First Quarter

Soft drinks group Britvic has posted a 4.9% increase in revenue in the first quarter of its financial year, to £369.8 million (€438.1 million).

During the quarter, the group benefited from the inclusion of 'additional trading days following the previously announced move to monthly accounting', it said.

On a comparable and constant currency basis, revenue increased by 2.6%, the group said, adding that it remains confident in its ability to 'achieve market expectations' for the year.

'Robust Start'

"I am pleased to report that we have delivered a robust start to the year," said Simon Litherland, chief executive.

"While we anticipate conditions will remain challenging, we are confident of achieving market expectations for the year, underpinned by the strength of our brand portfolio and exciting marketing and innovation plans."

Asset Sale

Britvic said that discussions with Refresco over the possible sale of assets in France are 'ongoing', and are subject to a consultation process with employee representatives, as well as competition clearance.

The group said that it is confident that this year will be completed later in 2020.

Britvic also announced the signing of a sustainability-linked revolving credit facility.

The £400 million refinanced facility, which has a maturity date of 2025, includes a number of annual KPIs linked to Britvic’s sustainable business strategy.

'This financing agreement further strengthens both our funding platform and our commitment to healthier people and a healthier planet,' the group said.

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine

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