23rd Nov 2022 09:33
(Alliance News) - Britvic PLC on Wednesday said profit and revenue increased during its recent financial year, prompting a higher final dividend for shareholders.
The Hertfordshire, England-based soft drinks maker said pretax profit increased by 30% in the financial year that ended September 30 to GBP175.1 million from a restated GBP134.6 million the year before, while revenue grew by 15% to GBP1.62 billion from a restated GBP1.41 billion.
Revenue growth was driven by retail and hospitality growth, benefiting from good summer weather and the absence of Covid-19 lockdown restrictions, Britvic said.
It also increased its manufacturing capacity in the UK, Brazil and France to meet consumer demand.
Britvic declared an increased final dividend of 21.2 pence, up 20% from 17.7p a year ago, leading to a full-year dividend of 29p, also up 20%, from 24.2p.
Adjusted earnings before interest and taxes margin was 12.7%, up 10 basis points.
Current trading remains robust, Britvic said, and in line with expectations.
"Our strategy has momentum, delivering accelerated top-line growth through consistent execution across our portfolio of trusted brands. We recognise that there are significant inflationary pressures on our consumers, customers and suppliers, and we remain focused on mitigating costs in a responsible manner through efficiency initiatives and revenue management, while continuing to invest in our brands, people, sustainability and infrastructure," said Chief Executive Officer Simon Litherland.
Shares in Britvic were up 3.4% to 795.00 pence in London on Wednesday morning.
By Greg Rosenvinge; [email protected]
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