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Britvic H1 Profit Declines; Organic Revenue Up 3.7% - Quick Facts

Britvic plc (BVIC.L) reported profit before tax of 50.1 million pounds for the 28 weeks ended 16 April 2017 compared to 53.9 million pounds, previous year. Profit for the period attributable to the equity shareholders decreased to 38.6 million pounds or 14.6 pence per share from 40.6 million pounds or 15.4 pence per share. The Group noted that its first-half earnings were impacted by 5.8 million pounds of exceptional and other items. Adjusted earnings per share was 18.8 pence compared to 17.2 pence.

First-half revenue increased 11.5% to 756.3 million pounds. Organic revenue was up 3.7% for the period. Simon Litherland, CEO, said: "Britvic has delivered a strong first half performance driven by organic revenue growth in all our markets and successful management of input cost inflation. We have continued to make progress delivering our strategic priorities and have exciting commercial plans for the second half of the year. I am confident that we will deliver full year performance in line with market expectations."

The board recommended an interim dividend of 7.2 pence per share, an increase of 2.9% on the dividend declared last year. The interim dividend will be paid on 14 July 2017 to shareholders on record as at 2 June 2017.

Britvic plc also announced that John Daly, currently Senior Independent Director and Chair of the Remuneration Committee, will succeed Gerald Corbett as Chairman with effect from 1 September 2017.

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