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Britvic 52-week sales up
Britvic has reported its 53-week trading performance. In order to make comparisons meaningful, where indicated, numbers have been normalised to 52 or 12 weeks.
Highlights
- Group: 52-week revenue up 14.6% (12-week Q4 up 33.4%);
- Group (excluding France acquisition): 52-week revenue up 5.9% (12-week Q4 up 8.0%), with GB Stills delivering strong Q4 revenue growth;
- GB & International: 52-week revenue up 8.6% (12-week Q4 up 10.3%), ahead of Britvic’s long-term track record of growth;
- Ireland: a continuing difficult consumer environment, leading to management action on the business model. Asset impairment expected at year end;
- France: particularly good summer trading and category growth, combined with successful integration.
Britvic chief executive Paul Moody commented: “Britvic has delivered another strong revenue performance in 2010, maintaining our track record of consistent growth. We have outperformed key markets, which continue to prove resilient despite the uncertain consumer environment. We are delighted with both the trading performance and integration of Britvic France, and our action in Ireland will put our business model in optimal shape ahead of eventual market recovery.
“The combination of revenue growth and a tight management of costs mean that we expect to meet market expectations for the Group in 2010. Additionally, despite our caution on a weak consumer environment, we are confident at this early stage that we have the focused strategy to deliver another robust set of results for the year ahead.”
Source: Britvic
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