“Confident of achieving market expectations for the full year”
Britvic today reports third quarter revenue of £360.1m, a decrease of 1.5% (constant currency and excluding SDIL/SSDT*) on last year. Revenue in GB grew despite the market** declining in value and volume. Brazil and International continued to deliver solid revenue growth, while performance in France and Ireland remained more challenging with a further softening since the half-year.
Simon Litherland, Chief Executive, commented:
“Overall we have delivered a solid performance against a more challenging backdrop in quarter three. We remain confident of achieving market expectations for the full year, underpinned by the strength of our brand portfolio, exciting commercial plans and a tight focus on cost control.”
For further information please contact:
|Steve Nightingale||Director of Investor Relations||+44 (0) 7808 09 7784|
|Megan Ratcliffe||Head of Corporate Communications||
+44 (0) 7808 097769
|Stephen Malthouse||Headland||+44 (0) 203 805 4822|
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This announcement includes statements that are forward-looking in nature. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the group to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Except as required by the Listing Rules and applicable law, Britvic undertakes no obligation to update or change any forward-looking statements to reflect events occurring after the date such statements are published.
*Soft Drinks Industry Levy (SDIL) is a levy applied on soft drinks manufacturers in the UK. Sugar Sweetened Soft Drinks Tax (SSDT) is a levy applied on soft drinks manufacturers in the Republic of Ireland.
**GB take-home market data referred to in this announcement is supplied by Nielsen and runs to 6 July 2019.
QUARTER THREE (“Q3”) REPORTING PERIOD
Britvic GB, Ireland and Britvic International’s third-quarter period runs from 15 April to 7 July 2019. Britvic France, Britvic Brazil and Counterpoint cover the period from 1 April to 30 June 2019. Please note that Britvic Ireland’s volume and ARP exclude the sale of third-party factored brands through Counterpoint.
NEXT SCHEDULED ANNOUNCEMENT
Britvic will release its preliminary results on 27 November 2019.
For the full announcement please click here