Despite a shortage of fizz Britvic revenue increases 11pc in Ireland

Posted by On 3:15 AM

Despite a shortage of fizz Britvic revenue increases 11pc in Ireland

Despite a shortage of fizz Britvic revenue increases 11pc in Ireland

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Ellie Donnelly

Ellie Donnelly Twitter Email

Britvic’s Irish arm has seen its revenue grow 11pc year-on-year in the soft drink company’s third quarter.

The performance was driven by the exceptionally warm weather, the company said in a trading update today.

Overall, the company reported third quarter revenue of £366.9m (€411m) for the three month period, an increase of 3.4pc on the previ ous year. However, excluding the soft drinks industry levy, revenue decreased by 0.6pc in the three month period, as the drinks industry as a whole battled a shortage of carbon dioxide in the UK and Ireland.

Year to date reported revenue at the group increased 4.2pc, or 2.8pc excluding the soft drinks industry levy in the UK, to £1.1bn (€1.2bn).

In Britain revenue increased 8pc, or 1.9pc excluding the soft drinks industry levy, this was driven by its still drinks range, which jumped 11.7pc, excluding the sugar levy.

"Britvic has delivered a strong underlying performance in the third quarter," Simon Litherland, CEO of Britvic, said.

"Whilst the industry-wide shortage of carbon dioxide held back our ability to fully capitalise on the exceptional weather in Britain 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. "

During the disruption to the supply of carbon dioxide into the UK and Ireland, Britvic temporarily reduced promotional activity and reallocated some of its secondary feature space to stills.

"Supply has now normalised, enabling us to start rebuilding stock levels and gradually reintroduce promotions," Mr Litherland said.

In France the company’s revenue declined 15pc year-on-year in the three months to 8 July, which the company said reflected both a strong comparative last year, as well as poor weather in June this year.

Meanwhile in Brazil, revenue increased 10pc year-on-year against a soft comparative last year.

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Follow @IndobusinessSource: Google News Ireland | Netizen 24 Ire land

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