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Britvic has had its target price raised by UBS, who notes that there is less input cost variability in the current year and cost-cutting measures are now in place for next year. “We believe Britvic has regained some control of its profitability with its planned GBP8m in cost savings for 2012FY, though PET (plastic) inflation is still a key swing factor,” the broker said. “We previously applied a 10% discount to reflect high input cost uncertainty. We remove this discount, which increases our price target from 390p to 430p.” A ‘neutral’ rating is kept.
Shore Capital upgraded its recommendation for Britvic (BVIC), the soft drinks maker, from "sell" to "buy". The broker noted the "robust" set of interims last week and said they provide it with confidence that its full-year expectations can be met. What's more, Singer added that whilst the economic backdrop in core markets remains challenging and the risk of margin pressure from further increases in input cost inflation is still present, it believes the worst has now passed and a level of caution is factored into market forecasts
Shares in Britvic (BVIC) advanced 6.9p to 432.9p after the soft drinks maker expressed its confidence in the future prospects of the business by increasing its interim dividend by 8.5% to 5.1p. The move came despite the group revealing a 28% drop in pre-tax profits to 20.1 million pounds for the 6-months ended 17th April 2011 following being hit by soaring cost of commodities such as sugar and oil. Commenting on this, chief executive Paul Moody said: "...trading in the first few weeks of the third quarter provides the board with further confidence in the outlook for the balance of the year".
Britvic gets a lift from France By Benjamin Chiou Date: Friday 27 May 2011 LONDON (ShareCast) - First half sales at soft drinks group Britvic jumped by a quarter after a first-time contribution from its French division. Group revenue grew by 25.3% from £505.3m to £633.1m in the six months ended 17 April, with Britvic France registering sales of £117.4m. Revenue from the UK business unit increased by 4%, helped by second-quarter growth of 6.8%. While carbonates delivered an 8.3% rise in revenue, sales of still drinks fell by 1.6% as underlying volumes fell by 3.9%. The reason being that the pub and clubs channel was more weighted to "more value-orientated categories" such as dispensed carbonates. The Robinsons brand, famous for its squash, also saw some share loss as the company scaled back promotional activity ahead of the launch of a new product. The roll-out of the Fruit Shoot brand in Australia and continued growth in the US helped international revenues of 20.4%. However, increased selling and distribution costs - due to the inclusion of the French business - took its toll on profits. Pre-tax profit fell to £20.1m, from £27.8m in 2010. Basic earnings per share fell from 9.8p to 6.6p. Total group volumes rose by 16.6% to 1.1bn litres, as growth in the UK and International divisions offset a decline in Ireland. The group is expecting to pay an interim dividend of 5.1p per share, 8.5% than the previous year.
http://www.investegate.co.uk/Article.aspx?id=201105270700114032H
Soaring commodity prices to hurt Britvic Date: Thursday 24 Feb 2011 LONDON (ShareCast) - Soaring commodity prices will hurt soft drinks group Britvic’s results this year. The company behind Tango and Robinsons, which also distributes Pepsi in the UK and Ireland, has increased its cost inflation guidance for 2011 to 9% to 11% from a previous estimate of 5% to 6%. “We have been adversely impacted by sharp recent increases in the price of PET (a plastic product derived from oil), steel and sugar,” the company said. Britvic said the escalation in input costs comes after the completion of price negotiations with customers. “Since our last update to the market we have witnessed a rapid and unprecedented uplift in the cost of key raw materials,” chief executive Paul Moody said. “This has been driven by a shortage of supply to the market, where, for example, we have seen prices for PET, derived from oil, surge by around 20% in the last month alone.”
In accordance with the Company's Interim Management Statement of 27th January 2011, trading in the second quarter has been strong across each of our operating territories, with the GB & Ireland price-negotiation programmes successfully concluded. Britvic commenced the price negotiations with the aim of protecting cash margins in response to our then-current expectations that GB & Ireland's 2011 input-cost inflation would be 5-6%. Though the Irish soft drinks market remains challenging, the GB and French markets continue to demonstrate resilience, illustrated by GB take-home market volumes up by 2.9% year-on-year in the four weeks to 22nd January. This was a period and channel where Britvic captured both volume and value share. However, the pace of input-cost inflation in recent weeks has been unprecedented, leading us to revise the full-year GB & Ireland input-cost inflation guidance to 9-11%. In particular, we have been adversely impacted by sharp recent increases in the price of PET, steel and sugar. The forecast of particularly challenging input-cost inflation pressure for Britvic France, given its product mix, remains unchanged. The escalation in input costs comes after the completion of this year's price-negotiation process, meaning that we do not expect to be able to recover or mitigate in full the additional input-cost increases we now expect this year. The input-cost inflation will impact the outcome for both the first half and full year, and means we do not now expect any operating-profit margin improvement in 2011, excluding the impact of France. Despite these headwinds, Britvic fully expects this year's operating profit performance to be materially ahead of the 53-week result reported for financial year 2010. Sincce our last update to the market we have witnessed a rapid and unprecedented uplift in the cost of key raw materials. This has been driven by a shortage of supply to the market, where, for example, we have seen prices for PET, derived from oil, surge by around 20% in the last month alone. We do, however, remain confident about the medium to long-term outlook for the business, and we look forward to providing more details on the latter at the annual investor seminar on 23rd March 2011."
can anyone tell me why this share has dropped so much today?
what the div in May will be ? If maintained at prior levels then it will be close to a 10% yield at these prices !
she is out of the starting blocks, off to a tremendous start and heading for a fiver!!!! Eh
on the cards tomorrow? stoch and macd turned positive.
in here for a bit today, seems pretty quite here, chart looks nice for some cake
A city friend tipped me off that Britvic are being touted as a potential target has anybody else heard about this? or is this just another rumour?
Fizzy drinks maker Britvic’s chief executive and finance director have taken up shares and sold the share options for a second day running. The latest sales are of shares acquired under the Britvic Performance Share Plan at no cost. Chief executive Paul Moody was awarded 84,694 shares and sold 34,725 shares at 375p each in order to raise just over £130,000. Finance director John Gibney sold 22,174 shares out of the 54,082 shares he was awarded, thereby raising £83,000.
The expected results are to be very good again. I reckon a sharp rise in October.
Can anyone see this going above 350 today? The results are due out at the end of this month arent they?
What does this mean? LONDON, May 27 (Reuters) - UBS is placing 30 million shares in British soft drink maker Britvic at 265.5 pence per share, traders said on Wednesday. UBS is not immediately available for comment. Britvic shares closed 1.4 percent lower at 290 pence on Tuesday
Popped out to walk the dog...but back looking for bargains......LOL
I was given the share to look at.I think its another on to keep away as pub and club are going down the pan
Overbought too me now. Might just peak slightly but I dont see much more mileage in this for the next few days.. But thats just my opinion :)
got to be a profit @ this price! will be at 250 soon.......