Britvic Ireland reports 6% rise in annual revenues

Despite the sharp economic downturn Britvic Ireland said it delivered a “robust performance” as annual revenues rose by 6.2 per cent to €237 million (£200.7m sterling).

EBITA (Earnings before interest, tax and amortisation) for Britvic Ireland were €21 million in 2008, according to group preliminary results released this morning.

Underlying euro revenues were up 6.4 per cent, although volumes were 3.4 per cent.

This has been facilitated by “synergy benefits” and the company has upgraded its synergies target has been lifted to €15 million to €21 million by the end of 2011.

Britvic paid C&C €250 million last year to acquire its soft drinks portfolio, including Club, Ballygowan water, Cidona, MiWadi, and Energise Sport, as well as the rights to the Pepsi and 7 Up brands here.

These core brands had played a “significant part in the robust performance” in what was a challenging trading environment. It said the effect of the Irish recession has impacted adversely on the take-home and licenced trade markets.

It said 7UP remained the second-best selling drinks brand while its existing brands had been boosted by the introduction of Robinsons squash, J20 and Fruit Shoot.

Over the period the group invested €7.6 million in the Kylemore production facility in Dublin.

Britvic Ireland’s parent today reported a 14 per cent increase in full-year pretax profit, saying each key brands had gained market share and outperformed the broader market.

Britvic said pretax profit for the year to September 28th was £70.1 million (€82.6 million) compared with £61.3 million the previous year.

That was at the top end of expectations which ranged between £59 million and £71 million, according to a Reuters Estimates poll of nine analysts.

"This is a strong performance achieved despite very challenging trading and cost environments," said Chief Executive Paul Moody.

Britvic, which is Britain's second biggest soft drinks maker behind Coca-Cola Enterprises, said it had seen particular growth in Great Britain from Robinsons and its Fruit Shoot juice drink, as well as Pepsi, which it.

Additional reporting agencies