27th Jan 2022 13:16
(Alliance News) - Britvic PLC said on Thursday its first quarter had seen boosted revenue, led by sales in the UK and Ireland.
The Hertfordshire, England-based soft drinks maker said total revenue was up 17% year-on-year in the three months that ended December 31 to GBP373.9 million. This was 13% up on the pre-pandemic comparative of financial 2020.
Revenue was led by growth of 17% in UK & Ireland, with Britvic's At-Home channel continuing to grow. Out-of-Home trading was recovering in the first two months, but turned down in December due to Omicron restrictions limiting socialising. With restrictions easing across the region, Britvic expects the Out-of-Home channel to continue to recover from the pandemic.
Brazil's revenue grew by 8.7% and other international markets were up 18% on the previous year.
Britvic said it will continue to minimise inflationary pressure by means of its procurement and by controlling costs.
Chief Executive Simon Litherland commented: "We remain confident in our growth strategy, backed not only by our market-leading brands and our highly engaged employees, but also by our proven track record of successfully navigating headwinds. While we continue to experience inflationary pressures, our focus remains on minimising the impact on our business and I am confident we will continue to make progress this year and deliver strong returns for our shareholders."
The drinks company's share price was up 1.3% to 877.00 pence each in London midday Thursday.
Results results for the half-year ending March 31 will be released on May 17.
By Elizabeth Winter; [email protected]
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