Britvic has posted strong third-quarter results with revenue at £384.6 million, an increase in constant currency of 6.5% on last year.
Total organic revenue, excluding the recent acquisition of Bela Ischia, increased by 4.5% with volume ahead of 2016.
Performance in France and Ireland was particularly impressive and made up for slightly slower growth in the UK.
The soft drinks producer’s revenue in France rose by 11% with volume growth at 3.9%. Fruit Shoot maintained its performance and the syrups range benefited from the warm summer weather. Revenue in Ireland was driven by wholesale business Counterpoint and increased by 10.6%.
In Britvic’s GB unit, revenue increased by 4.9% with volume growth at 3.4%. The group said that while grocery performance was subdued, it grew strongly in the convenience and on-trade channels. GB carbonates revenue increased 7.6%, led by Pepsi Max and R Whites. Both Robinsons and Fruit Shoot volumes increased, but pricing was weaker due to aggressive competition in grocery.
Britvic chief executive Simon Litherland said: “Our business is in good shape, we have continued to execute our strategic priorities and deliver a robust performance, whilst taking proactive action to successfully mitigate external headwinds.
“Trading in the third quarter has been strong with group volumes, ARP and revenue ahead of last year, driven by a range of factors including our focus on growth channels, successful revenue management, delivery of our business capability programme and favourable weather.”
Looking ahead to the year as a whole, the soft drinks producer is confident that EBITA will be in line with current market expectations despite ‘challenging comparatives for the fourth and largest quarter and a mixed economic backdrop’.
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