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Britvic Q1 Revenue Down, Backs EBIT View; Confident Of Profitable Growth In FY15

Soft drinks maker Britvic Plc (BVIC.L) reported Tuesday that its first-quarter group revenue edged down 0.4 percent at constant exchange rate basis from last year to 304.3 million pounds, driven by a marginal volume decline of 0.3 percent.

The company said its trading in the quarter, as expected, reflected the challenging trading conditions in core markets. However, the company remains confident of delivering EBIT in the previously stated guidance range of 164 million pounds to 173 million pounds, underpinned by cost saving initiatives.

In the quarter, GB revenue declined 1.4 percent, in a notably more competitive promotional environment, while Ireland revenue increased 2.8 percent and France revenue increased 2.3 percent.

International revenue declined 3.6 percent, mainly due to lower volumes in the travel sector combined with lower orders for US concentrate compound.

Simon Litherland, Chief Executive, said, "Whilst we expect the trading environment to remain challenging, we have strong marketing plans and a significant innovation pipeline in place for 2015. These strong commercial plans, supported by ongoing cost benefits from our major strategic initiatives programme, mean that we remain confident of delivering further profitable growth in 2015 in line with our guidance range."

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