Britvic hails ‘strong’ trading, announces two acquisitions

by | Jul 27, 2023

(Sharecast News) – Drinks company Britvic hailed “strong” trading on Thursday as it posted a rise in third-quarter revenue and announced two new acquisitions.
Group revenue jumped 9.9% to £476.7m amid volume growth and a positive price/mix.

Revenue in Great Britain was up 10.1% on the previous year, with volume growth in both retail and hospitality channels.

In Brazil, revenue fell 1.9%. In the core soft drinks business, positive price/mix continued to drive margin improvement though had a small impact on volumes, Britvic said, adding that there was a continued drop in exports from the Be Ingredient fruit processing business.

Other International revenue rose 13.3%. Ireland revenue benefited from positive price/mix and volume growth, while in France saw strong price/mix more than offset soft volumes.

Britvic said full-year revenue and earnings before interest and tax are set to be within the range of current market expectations.

Chief executive Simon Litherland said: “Consumer demand for our portfolio of leading family favourite brands remains buoyant ahead of the key summer trading period, as we continue to offer consumers great quality and value at affordable prices.”

Also on Thursday, Britvic announced the acquisition of Jimmy’s Iced Coffee in the UK and energy brand Extra Power in Brazil.

“These transactions are aligned to our strategic priorities and provide further opportunities to accelerate our strong growth trajectory,” said Litherland.

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