Chief executive Simon Litherland commented: “Whilst quarter-three continued to be a challenging consumer environment, we maintained our focus on building brand value with a substantially stronger marketing programme, which included our annual Robinsons Wimbledon campaign and Pepsi’s sponsorship of Beyoncé. As a result we have successfully driven an increase in average realised price and grown revenue by 4%.
“These results combined with strong sales in the early weeks of quarter-four, reinforce our confidence that we will deliver EBIT for the full year at the upper end of our guidance range of £125-£131m. We are now fully focused on executing the strategy that I outlined at the interims.”
Highlights
GB Q3 revenue increased by 4.4% (ytd +1.3%). As measured by Nielsen, the take-home soft drinks market grew value in the last 12 weeks by 2.9%. A promotional strategy focused on value growth and our market out-performance in the impulse channel led to ARP (average realised price) growth of 6.0%.
Ireland Q3 revenue decreased by 5.5% (ytd -5.5%). Overall revenue was down due to the continued decline of the third-party brands in the licensed wholesale business. Own brands revenue was up, driven by strong ARP growth of 3.0% which more than offset a volume decline of 2.5%, outperforming a difficult Irish soft drinks market. As measured by Nielsen, the take-home soft drinks market was down by 4.5% in volume and down 3.3% in value during the last 12 weeks.
France Q3 revenue grew by 4.6% (ytd +3.4%). Volume increased by 0.3% and ARP grew by 4.2% in the quarter as a result of growth in our branded business, especially Fruit Shoot and Teisseire.
International Q3 revenue increased by 25.0% (ytd +25.6%). The Fruit Shoot roll out to 32 US states led to substantial growth in concentrate sales which was reflected in the ARP increase of 29.0%.
Source: Britvic plc
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