22nd May 2019 09:42
LONDON (Alliance News) - Soft drinks producer Britvic PLC said Wednesday its interim profit and revenue rose mainly through organic brand growth in all of its regional markets.
For the 28 weeks ended April 14, pretax profit increased by 8.1% to GBP45.2 million from GBP41.8 million the year before, on revenue that grew by 4.9% to GBP769.2 million from GBP733.2 million.
In Britain, Britvic's Stills business saw revenue growth of 5.1%, through promotional marketing campaign of J20, Fruit Shoot and Robinsons. Meanwhile, the Carbonates business revenue rose by 11% on strong growth from low and no sugar brands of Pepsi Max, 7UP free and Tango.
Revenue from Britvic's Ireland segment rose by 4.6% and International revenue grew by 20% on increased sales and new account wins. Brand-wise, Teisseire saw strong growth, particularly on its no sugar Zero range.
Britvic declared an interim dividend of 8.3 pence per share, up 5.1% from 7.9p paid the prior year.
Looking ahead, Britvic said that with an improving cash flow and a strong balance sheet, it remains confident on achieving market expectations for its full financial year.
"I am pleased to report that we have delivered another strong performance in the first half of the year. We have grown organic brand contribution in all our markets and increased group revenue, organic margin and adjusted earnings per share," said Chief Executive Simon Litherland.
"As we anticipated, the soft drinks levy has benefited our portfolio, accelerating the consumer trend towards our heartland of low and no sugar brands. Pepsi MAX has generated more incremental retail value than any other cola variant, while the rejuvenation of the Robinsons brand continued to deliver both significant revenue and squash category value growth," Litherland added.
Shares in Britvic were 0.3% lower at 935.00 pence each on Wednesday.
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