21st Jul 2022 10:22
(Alliance News) - Britvic PLC on Thursday delivered good third quarter and year-to-date revenue growth on a more normalised trading environment, after the removal of Covid-19 restrictions.
The Hertfordshire, England-based soft drinks maker said revenue in the quarter ended June 30 was up 11% to GBP431.1 million year-on-year.
Meanwhile, year-to-date revenue increased 16% to GBP1.15 billion compared to the same period a year before.
In Great Britain, revenue grew 9.2% in the quarter and 15% year-to-date, due to the recovery of Britvic's Out-of-Home channel and further growth in its At-Home channel.
In Brazil, revenue jumped 24% in the quarter and 18% year-to-date, due to its expanding presence in the country.
Britvic explained that the growth rates reflect a "more normalised" operating environment, due to the phased lifting of Covid-19 restrictions.
Britvic expects to deliver full-year results in line with its expectations.
"We are encouraged by trading performance year to date although we expect the uncertain environment to continue to weigh on consumer confidence. We remain focused on mitigating the impact of inflationary pressures on our business," Chief Executive Simon Litherland said.
"Soft drinks is a resilient category, within which we have a well-invested business, a flexible operating model and a robust supply chain. We are confident in our ability to deliver value for all our stakeholders and a full year performance in line with market expectations."
Shares were up 0.6% at 836.00 pence each on Thursday morning in London.
By Abby Amoakuh; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
Britvic