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Britvic Q4 Revenues Down; Lifts FY14 Operating Profit View - Quick Facts

Soft drinks maker Britvic Plc (BVIC.L) reported Thursday that fourth-quarter revenues declined 6.1 percent to 344.2 million pounds from the prior year. At constant exchanges rates, revenues fell 4 percent, as expected.

The latest quarter revenues included seven less trading days in Ireland than the previous year and when adjusted for this, the like for like revenue decline was 3.1 percent.

In the quarter, GB revenue declined 2.1 percent and Ireland revenue declined 5.2 percent on a like for like basis. France revenue also declined 12 percent. However, international revenue climbed 35.2 percent from last year.

For the full year, revenues increased 1.7 percent to 1.34 billion pounds, with both volume and price growth. The company said the strategic cost initiatives were successfully implemented with a slightly higher in-year benefit than anticipated.

As a result, the company now expects full-year EBIT will be marginally ahead of the top end of previous guidance range of 148 million pounds to 156 million pounds and well ahead of last year.

Simon Litherland, Chief Executive, said, "We have delivered a strong performance despite the poorer summer weather and the continued challenging trading environment. … We anticipate that the prevailing challenging market conditions will continue for some time. Nevertheless, we look forward with confidence to further earnings growth in 2015, as we realise the full year benefit of the cost initiatives and execute our extensive innovation and marketing plans for the year."

The company said it will share more details of this in preliminary results in November.

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