Drinks group Britvic sees ‘robust’ trade in third quarter

Drinks group Brivic said the third quarter of the year showed strong trading, with a robust performance driven by volume growth and pricing.

The group said it expected full year revenue and earnings to be within the range of current market expectations. Britvic also announced two new acquisitions to build on growth.

Revenue for the group rose almost 10 per cent in the three-month period, reaching £476.7 million. In the international sector, which includes Ireland, revenue rose 13 per cent, with the Irish business benefiting from positive price and mix, and volume growth. The French business saw soft volumes, which was offset by pricing and mix.

In the British market, revenue increased 10 per cent year on year, with volume growth across both retail and hospitality. Brazil was the only sector to see a decline, falling 1.9 per cent.

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“Consumer demand for our portfolio of leading family favourite brands remains buoyant ahead of the key summer trading period, as we continue to offer consumers great quality and value at affordable prices,” chief executive Simon Litherland said. “We expect to deliver full year revenue and profit within the range of current market expectations.”

The group also announced two acquisitions: Jimmy’s Iced Coffee in Britain, and energy brand Extra Power in Brazil.

“These transactions are aligned to our strategic priorities and provide further opportunities to accelerate our strong growth trajectory,” Mr Litherland said.