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Britvic Q1 Revenue Rises 3.3%

Britvic plc. (BVIC.L) reported first quarter revenue of 337.2 million pounds, an increase of 3.3% on the prior year. Organic revenue, which excluded the Bela Ischia acquisition, increased 0.7%.

Simon Litherland, Chief Executive, said,"We have delivered a solid start to the new financial year, with group revenue growing 3.3% ahead of a strong first quarter last year. As we said at our preliminary results, the introduction of a soft drinks industry levy in the UK and Ireland brings a level of uncertainty, but we are well placed to navigate this given the strength and breadth of our brand portfolio and exciting marketing and innovation plans. In addition, our continued focus on revenue and cost management and the delivery of the final phase of our business capability programme means we remain confident of making further progress in 2018."

GB revenue increased 1.0% as GB carbonates continued to outperform the market. Carbonates revenue increased 4.9%, driven by the continued success of Pepsi MAX in a very competitive market.

Brazil revenue increased 22.6%, benefiting from the acquisition of Bela Ischia in the second quarter last year. Organic revenue declined 6.5%, reflecting the continuation of the challenging consumer environment.

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