Soft drinks producer Britvic has reported year-on-year revenue growth of 11.2%, to £431.1 million (€505.2 million), in the third quarter of its financial year.
The company noted in its latest trading update that it was on track to deliver a full-year performance in line with expectations.
Commenting on its performance, Britvic chief executive, Simon Litherland, said, “Year-on-year performance in the quarter reflects continued resilient demand for our portfolio of trusted, family favourite brands.
"This summer we have a range of exciting marketing campaigns across all our markets, including a major new campaign for Robinsons in GB, and we will also be bringing back the Pepsi MAX taste challenge for the first time since the start of the pandemic."
Divisional Performance
Revenue in Great Britain increased by 9.2%, driven by the continued recovery of the out-of-home channel and further growth in the at-home channel.
In Brazil, Britvic posted revenue growth of 24.3% in this period, as it continued to expand its presence through its core as well as innovative brands.
Other international markets saw revenue up 12.7%, with both Ireland and France witnessing growth during the quarter.
Growth rates are reflective of a more normalised operating environment due to the phased lifting of COVID-related restrictions in the third quarter of last year, Britvic noted.
'Uncertain Environment'
Litherland added, "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; soft drinks are 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.”
In May of this year, the group commenced an initial share buyback programme of £75 million (€87.9 million) for the next 12 months. It hopes to complete approximately 50% of the buyback in this financial year.
© 2022 European Supermarket Magazine – your source for the latest A-Brands news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
