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Britvic profits rise as soft drinks tax boosts low, no sugar drinks brands

By BFN News | 07:58 AM | Wednesday 22 May, 2019


Britvic reported a rise in first-half profits as the soft drinks tax accelerated sales in its low and no sugar drinks brands. For the 28 weeks ended 14 April, pre-tax profits rose to £45.2m from £41.8m as revenue grew 4.8% to £769.2m on a reported basis, and 1.9% on an organic basis.� Its GB carbonates segment saw revenue grow 2.2%, but volume declined 4.5% against a strong comparative last year. Performance was driven by by Pepsi MAX, 7UP free and the range of low/no sugar variants of Tango and R Whites, which recorded strong volume growth, but was offset somewhat by a decline in full sugar variants.� The company's UK stills division booked 4.9% increase in revenues reflecting 'the premium Robinsons innovations, J20 growth and disciplined revenue management in both the Fruit Shoot ranges and core Robinsons,' the company said. Among its international segments, Brazil delivered a 'strong' first half of the year, with volume increasing 1.5%, due to 'growth in the ready-to-drink portfolio, with ARP increasing 6.6%, resulting in revenue growth of 8.0%,' it added. The company also provided update on its incoming Chief Financial Officer, Joanne Wilson, who was expected to join the company before the year end. Looking ahead, the company touted further progress and said it expected to meet market expectations for the full year. Story provided by StockMarketWire.com

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