18th May 2021 13:33
(Alliance News) - Shares in Britvic PLC rose on Tuesday after the soft drinks maker brought back an interim dividend following renewed demand as Covid-19 restrictions are eased in the UK.
The company's shares were up 3.1% at 946.99 pence each in London on Tuesday afternoon.
The FTSE 250-listed firm reported pretax profit of GBP42.7 million in the six months to end March, falling 20% from GBP53.6 million a year before.
Revenue decreased 12% to GBP617.1 million from GBP698.8 million.
Britvic reinstated an interim dividend of 6.5 pence per share, saying it has seen encouraging trading in the first weeks of the second half as lockdown measures begin to ease in the UK. It expects on-the-go consumption to regain momentum as socialising increases, while growth in at-home consumption will moderate.
The company also plans to ramp up investment in the second half "to capitalise on near-term market opportunities and drive long-term growth."
"In challenging circumstances, we have delivered a robust first half performance, demonstrating the resilience and agility of our business. We have continued to win in the channels open to us and have gained share in our key growth markets of GB and Brazil. Our cash management has been particularly strong, and I am pleased to reinstate our interim dividend," said Chief Executive Simon Litherland.
By Greg Roxburgh; [email protected]
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