FDBusiness.com

Solid Interim Performance by Britvic

 Breaking News
  • PepsiCo Targets African Growth in $1.7 Billion Deal PepsiCo has agreed to acquire all the outstanding shares of Pioneer Foods Group of South Africa for approximately US$1.7 billion. Pioneer Foods has a robust, locally relevant product portfolio that complements PepsiCo’s current line-up, with strong positions in cereals, juices, and other African nutritional food staples, including well-known, scaled brands like Weet-Bix, Liqui-Fruit, Ceres, Sasko, [...]...
  • WHO/Europe Studies Find Baby Foods are High in Sugar and Inappropriately Marketed For Babies Two new studies from WHO/Europe show that a high proportion of baby foods are incorrectly marketed as suitable for infants under the age of 6 months, and that many of those foods contain inappropriately high levels of sugar. WHO’s long-standing recommendation states that children should be breastfed, exclusively, for the first 6 months. Its 2016 [...]...
  • AB World Foods Selects e.fundamentals to Help Drive Online Sales AB World Foods, the ethnic foods division of Associated British Foods, has selected ecommerce analytics provider e.fundamentals to help drive sales of its products through retailers’ websites. AB World Foods, whose brands include Patak’s, Blue Dragon, Levi Roots and Tabasco, has become a client of e.fundamentals’ retail service, which continuously reports how brands are performing [...]...
  • AxFlow Holding Acquires Induchem Group in Ireland AxFlow Holding, the international fluid handling group that is active in all European markets, South Africa, Australia, and New Zealand, has acquired the Irish Induchem Group, the specialist provider of fluid handling solutions, which predominately focuses on valves, pipe solutions, mixers and pneumatics. Headquartered in Cork, the Induchem Group has four sites, located in Ireland and [...]...
  • AB InBev to Sell Australian Business For US$11.3 Billion to Asahi Group Anheuser-Busch InBev has agreed to divest Carlton & United Breweries (CUB), its Australian subsidiary, to Asahi Group Holdings for Au$16.0 billion, (US$11.3 billion) in enterprise value. The transaction represents an implied multiple of 14.9x 2018 normalised EBITDA. As part of this transaction, AB InBev will grant Asahi Group Holdings rights to commercialise the portfolio of AB [...]...

Solid Interim Performance by Britvic

Solid Interim Performance by Britvic
May 24
13:16 2012

Britvic, the UK-based soft drinks group, has increased revenue by 1.7% to £641.1 million for the 28 weeks ended 15 April 2012 but EBITA declined 6.9% to £41.9 million and margins slipped 60bps to 6.5% due to the impact of higher raw material costs and continuing problems at its Irish business. Profit before tax sank 10.5% to £24.8 million.

During the first half Britvic increased group volumes by 1.9% to 1.1 billion litres and achieved revenue growth in its GB, France and International business units. However, the business in Ireland continued to have a negative impact on the group’s overall performance. Indeed, Britvic faces a challenging trading environment characterised by fragile consumer confidence in its three core markets of  GB, France and Ireland.

GB revenue rose by 2.4% to £430.9 million with comparable volume growth of 2.9%. Britvic France revenue advanced 6.4% to £123.1 million, led by strong price growth of 11.5%, as volumes were down 4.6% in the first half of the year. The International business unit delivered revenue growth of 13% to £14.4 million, driven by US Fruit Shoot and expansion into new states, including Texas.

Although volumes edged up 0.5%, revenue fell by 10% to £ 72.7 million at Britvic Ireland. The Irish soft drinks market remains challenging and shows no sign of recovery in the near term, according to Britvic. Britvic is taking further action on costs to mitigate the declining top line and to create a long term, sustainable and profitable business.

“Despite the challenging economic environment, Britvic has delivered a robust performance and made encouraging progress on key initiatives,” says Paul Moody, chief executive of Britvic. “Revenues increased for the group, GB, International and France, delivering improved cash flow, enabling a reduction in debt and a proposed further increase in the interim dividend.”

Looking ahead, he comments: “Although the GB soft drinks market in April and early May has been adversely impacted by the poor weather, Britvic has continued to grow market share and with the key summer months ahead, we currently, remain comfortable with delivering the full year performance in line with our expectations.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 17, 2019Future Food-Tech
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements