29th Sep 2006 07:04
Britvic plc29 September 2006 Britvic plc ("Britvic") pre close Trading Update Britvic today reports improved trading in the 20 weeks to 3 September 2006, withbranded revenue growth of 0.4% compared with the same period last year, drivenby stills growth of 7.5% whilst carbonates were down 5.8%. Branded revenue forthe first 48 weeks of the year compared with the same period last year was down2.6%, against a first half decline of 5.3%, with stills up 3.0% and carbonatesdown 7.5%. During the 20 week period to 3 September 2006 the total carbonates market hasexperienced very marginal growth helped by a hot July, a favourable impact fromthe World Cup, significant new product introductions and a high level ofpromotional activity. At the same time as responding to this intense promotional competition, Britvichas continued to focus on Average Realised Price (ARP) which, as a consequence,has been essentially maintained versus the same 20 weeks last year. Whilst thisprice and promotional strategy, combined with the continuing effect of thepreviously announced structural changes in the customer base, has resulted insome erosion of market share, it has delivered an improved revenue performanceagainst the first half. In addition it has driven margin improvement againstboth the first half and the same period last year. In stills, Britvic has seen good growth driven by new product launches and asolid performance in the key categories of adult and juice drinks. Nonetheless,the total stills market continues to be led by categories such as pure juicewhere Britvic has yet to develop a presence, and water where Britvic has onlyrecently entered the category. The performance of Fruit Shoot H20, Britvic's newchildren's water brand, has been strong since its launch in May with its otherwater launches, Drench and Pennine Spring performing in line with Management'sexpectations. A higher total ARP combined with the delivery of £10m of the cost savingsprogramme in FY06 is expected to result in improved margins and profits in thesecond half. Paul Moody, Chief Executive commented: "We have achieved an improved performance in the 20 week period, particularlywithin the important faster growing stills market. Although the tradingenvironment within carbonates remains competitive, our improved performancecombined with our continued focus on ARP and costs means we anticipate that theoutturn for the year will be towards the top end of the range of current marketexpectations." The Company's next update to the market will be with its Preliminary Results forthe 52 weeks to 1 October 2006 on 30 November 2006. For further information please contact:Investors:John Gibney/ Jo Guano 01245 504 330 Media:Tom Buchanan / Conor McClafferty (Brunswick) 0207 404 5959 There will be a conference call today at 9.30am for investors and analysts withPaul Moody (Chief Executive) and John Gibney (Finance Director) and a furtherconference call at 2.30pm (9.30am Eastern Standard Time) today primarily for USinvestors and analysts. There will be an opportunity on both calls to askquestions. Access Number: Pin Number:9.30am call UK +44 (0)20 8609 0205 217348# 2.30pm call UK +44 (0)20 8609 0205 995324# US 1 866 793 4279 A recording of both calls will be available for seven days. Redial Number: Conference Reference:9.30am call UK +44 (0)20 8609 0289 153201 US 1 866 676 5865 2.30pm call UK +44 (0)20 8609 0289 153213 US 1 866 676 5865 Notes to editors Britvic is one of the two leading soft drinks businesses in Great Britain. TheCompany is the largest supplier of still soft drinks, the faster growingcategory in the soft drinks market, and the number two supplier of carbonates. Britvic plc's broad portfolio of leading brands includes established names withhigh brand recognition such as Robinsons and Tango and highly successfulinnovations such as J20 and Fruit Shoot. Included within the portfolio are thePepsi and 7UP brands, which Britvic produces, markets, sells and distributesunder its exclusive appointment from PepsiCo which runs until December 2023.This brand and product portfolio enables Britvic to target and satisfy a widerange of consumer demands in all major soft drinks categories, via all availableroutes to market. Cautionary note regarding forward-looking statements This announcement includes statements that are forward-looking in nature.Forward-looking statements involve known and unknown risks, uncertainties andother factors which may cause the actual results, performance or achievements ofthe Company to be materially different from any future results, performance orachievements expressed or implied by such forward-looking statements. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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