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Britvic Q3 Group Revenue Up 5.3%

Soft drinks maker Britvic Plc (BVIC.L) reported that its group revenue for the third-quarter was 346.3 million pounds, up 5.3% on last year. On an organic basis, revenue declined 0.7% to 326.5 million pounds.

The GB soft drinks market value declined 7.5% in June following a particularly wet month, resulting in a quarterly decline of 2.6%. Our Q3 GB revenue declined 2.0% with volume increasing 1.4% and ARP declining 3.4%, reflecting continued deflation and negative brand and channel mix.

Simon Litherland, Chief Executive, said, "Our Q3 performance was stronger than the first half of the year despite tough trading conditions and the wet weather in June. We have reported a 5.3% increase in revenue, with volumes up 8.8%. Organic volume has increased 1.4% whilst revenue has declined 0.7%. We have strong programmes in place for our brands over the balance of the year and remain on track to deliver full year EBITA within the guidance range we set at the beginning of the year of £180m to £190m."

Ireland revenue increased 10.6% with both Counterpoint and Britvic Ireland in strong growth. Both the carbonates and stills portfolio revenue increased during the quarter. Ireland has now delivered revenue growth in five of the last six quarters.
In France, revenue declined by 2.0% as volume declined 1.7% and ARP declined 0.4%. This was principally due to a decline in the syrups range which was impacted by the poor weather in June.

International revenue was flat on last year with the benefit of double-digit revenue growth in the USA offset by weaker sales in the travel and export markets, where trading conditions remained challenging.

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