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Britvic FY14 Profit Climbs, Lifts Dividend; Sees EBIT Growth Ahead - Quick Facts

Soft drinks maker Britvic Plc (BVIC.L) reported Wednesday that its fiscal 2014 pre-tax profit climbed to 120.1 million pounds from 82.6 million pounds last year.

Adjusted pre-tax profit, which excluded certain items, was 132.9 million pounds, compared to 108.1 million pounds a year ago. Adjusted earnings per share was 41.5 pence, compared to 34.9 pence last year.

Group adjusted EBIT improved 17.1 percent to 158.1 million pounds from 135.0 million pounds last year.

Group Revenue increased 1.7 percent to 1.344 billion pounds from 1.322 billion pounds a year ago. At constant exchange rates, revenues grew 2.4 percent.

In the period, the company sold over 2 billion litres of soft drinks, an increase of 1.5 percent on the previous year, with Average Realised Price or ARP of 63.0p, increasing by 1 percent.

Further, the company said its board is recommending a final dividend of 14.8p per share, an increase of 13.8 percent on the dividend declared last year.

Looking ahead, the company anticipates 2015 EBIT in the range of 164 million pounds to 173 million pounds, underpinned by cost saving initiatives.

Simon Litherland, Chief Executive Officer, said, "The year has begun slowly, reflecting the increasingly challenging trading conditions. However we are confident of further improving our profitability in 2015, as we bring to market our strong innovation and marketing plans and benefit from the delivery of the cost savings programme."

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