Drinks group Britvic has reported a 7.9% increase in revenue in the first half of its financial year, to £794 million (€911.6 million), in what the group described as an 'excellent' start to the year.
Adjusted EBIT for the six months to 31 March rose 16.7%, to £85.3 million (€97.9 million), it added, while adjusted EBIT margin was up 80 basis points to 10.7%.
"We have successfully mitigated the impact of the challenging inflationary environment, while continuing to offer consumers great quality and value at affordable prices," commented Simon Litherland, Britvic chief executive.
Higher Volumes
The group said that it reported higher volumes in the second quarter, adding that it was 'successfully managing' the current inflationary environment.
It has also invested in growth capacity with the rollout of new production lines in the UK and Brazil.
From a brand perspective, its Tango and Pepsi Max brands performed well, while it relaunched Robinsons to accelerate its positioning in the flavour concentrates category.
'Innovation Campaigns'
"Looking ahead, we will be activating a series of exciting marketing and innovation campaigns this summer," Litherland added.
"We have a fantastic portfolio, a well-invested business, and a very talented team, so I am confident that we will continue to make further strong progress this year and beyond, creating value for all our stakeholders.”
It also announced a further share buyback programme, of up to £75 million over the next 12 months.
Read More: Britvic Names British Airways Executive Rebecca Napier As New Finance Chief
© 2023 European Supermarket Magazine – your source for the latest A-Brands news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.
