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Britvic Plc H1 Adj. Profit Rises; Underlying Revenue Up 18.5%

Britvic plc (BVIC.L) said it recorded first half growth in underlying revenue of 18.5%, adjusted EBIT of 20.7%, and underlying margin improvement of 20bps. The Group noted that it continues to generate strong cash flow and have increased the interim dividend by 20%.

First half adjusted EBIT increased 20.7% to 73.5 million pounds. Adjusted earnings per share was 19.4 pence compared to 15.1 pence.

Profit before tax increased to 59.3 million pounds from 39.8 million pounds, previous year. Earnings per share was 17.1 pence compared to 11.6 pence. Revenue increased to 719.3 million pounds from 617.1 million pounds.

The Board of Britvic plc believes it is appropriate to commence an initial 75 million pounds share repurchase programme, to be executed within the next 12 months. The Group's dividend policy remains unchanged.

The Board declared an interim dividend of 7.8 pence per share. The interim dividend for 2022 will be paid on 6 July 2022 to shareholders on record as of 27 May 2022.

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