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Britvic Q3 Revenues Rise; Says Confident In FY Forecast - Quick Facts

Soft drinks maker Britvic Plc (BVIC.L) on Tuesday reported higher third-quarter revenues, and said it is confident in full year expectations.

In its trading update, the company noted that third-quarter revenue of 366.9 million pounds increased 3.4% on a constant currency basis. Revenue excluding the Soft Drinks Industry Levy or SDIL decreased 0.6%.

GB revenue increased 8.0% at constant rates,, with GB carbonates revenue increasing 6.1%. Pepsi continued to gain share, led by outstanding execution of MAX. GB Stills revenue growth was 11.9%.

Ireland revenue increased 11.3% against both a strong comparative period last year and disruption from the carbon dioxide shortage. Stills portfolio, including Ballygowan water, benefited from the exceptionally warm weather in the period.

France revenue, meanwhile, declined 15%, reflecting both a very strong comparative last year and exceptionally poor weather in June this year.

In the 4 weeks to 24 June, the adverse weather drove a total soft drinks market volume decline of over 14% and a syrups market volume decline of nearly 23%.

Brazil revenue increased 10.2%.

International revenue increased 8.7% in the quarter. In the USA, Fruit Shoot continued to make progress with increased distribution and additional listings secured.

Simon Litherland, Chief Executive Officer, said, "Britvic has delivered a strong underlying performance in the third quarter, through continuing outstanding execution of no sugar carbonates and substantial growth from our stills brands. Whilst the industry-wide shortage of carbon dioxide held back our ability to fully capitalise on the exceptional weather in GB and Ireland, we leveraged the breadth and strength of our portfolio to moderate the impact. Consequently, we remain confident of achieving market expectations for the full year."

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