Farming & Food

Britvic reports 10.6% hike in Irish revenues as group turnover jumps

Company says Irish revenues were driven by its wholesale business Counterpoint

The company includes Miwadi, Ballygowan and Robinsons Fruit Shoot in its product portfolio

Thu Jul 27 2017 - 07:32

Soft drinks company Britvic said Irish revenus rose 10.6 per cent in its third quarter as the group reported a 6.5 per cent rise in revenues to £384.6 million.

The company, which includes Miwadi, Ballygowan and Robinsons Fruit Shoot in its product portfolio, said Irish revenues were driven by its wholesale business Counterpoint, which also benefited from the recent acquisition of East Coast Supliers.

Branded volumes, which exclude wholesale, declined 2.4 per cent as it lapped a large comparable period.

Britvic said overall volumes across the grup increased by 2.3 per cent during the third quarter with average retail price (ARP) up 2.9 per cent.

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Organic revenue, excluding the recent acquisition of Bela Ischia, increased 4.5 per cent with volume and ARP ahead of the prior year.

British revenue increased 4.9 per cent, with volume growth of 3.4 per cent and ARP growth of 1.5 per cent.

“Our business is in good shape, we have continued to execute our strategic priorities and deliver a robust performance, whilst taking proactive action to successfully mitigate external headwinds,” said chief executive Simon Litherland.

“Trading in the third quarter has been strong with group volumes, ARP and revenue ahead of last year, driven by a range of factors including our focus on growth channels, successful revenue management, delivery of our business capability programme and favourable weather,” he added.

The company said it expects full-year ebtida to be in line with current market expectations despite challenging comparatives for the fourth and largest quarter and a mixed economic backdrop.

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