Britvic H1 Profit Down, Reinstates Dividend; Sees Encouraging Trading; Stock Up

Britvic plc (BVIC.L), a plant-based drinks brand, reported Tuesday that its first-half profit after tax decreased 14.7 percent to 33.2 million pounds from 38.9 million pounds a year ago.

Basic earnings per share declined 15.6 percent to 12.4 pence from 14.7 pence a year ago. Adjusted earnings per share were 15.2 pence, compared to 19 pence last year.

EBIT declined 16.7 percent from last year to 52.3 million pounds, and adjusted EBIT decreased 20.6 percent to 60.1 million pounds.

Revenue fell 11.7 percent to 617.1 million pounds from last year's 698.8 million pounds. Revenues declined 6.3 percent at constant exchange rates.

Further, the company said its Board has reinstated the interim dividend and declared a dividend of 6.5p reflecting confidence in full year performance.

Regarding the current trading, the company said there are encouraging trading in the first weeks of second half as lockdown measures begin to ease in the UK.

Going forward, the company anticipates positive mix impact as At-Home growth moderates, socialising increases and on-the-go consumption regains momentum.

In London, Britvic shares were trading at 953 pence, up 3.70 percent.

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