Soft drinks maker Britvic has reported third-quarter group revenues of £346.3 million, up 5.3 per cent on last year.
Britvic Ireland third-quarter revenue increased by 10.6 per cent to £33.6 million (€40.3 million), while volume rose by 8.3 per cent.
The company said the Irish market has now delivered revenue growth in five of the past six quarters, with Ballygowan the fastest growing product in the overall soft drinks market in Ireland.
Britvic’s Brazilian business has continued to gain market share and generated third-quarter revenue of £19.8 million, up 37 per cent on last year on a comparable basis.
Tough conditions
Britvic chief executive Simon Litherland said third quarter performance was stronger than the first half of the year, despite tough trading conditions and the wet weather in June.
“We have strong programmes in place for our brands over the balance of the year and remain on track to deliver full year EBITA within the guidance range we set at the beginning of the year of £180 million to £190 million,” he said.
He said the decision by the UK to leave the EU creates additional consumer and economic uncertainty while the weakening of sterling will place pressure on Britvic’s input costs in the UK.
“However, our strategy to leverage our market-leading brands in our core markets, expand internationally, continue to invest in innovation and focus on cost control, means that we are well placed to continue to deliver our long-term strategic priorities and create value for our shareholders,” he said.
