(Sharecast News) - Drinks company Britvic hailed a positive start to the year on Thursday as it posted a jump in first-quarter revenues.
In an update for the quarter to the end of December, the company said trading was in line with management expectations, with group revenue up 8.1% to £443.5m at constant currency, and volumes up 1.7% on the previous year.
Britvic said it had been a "robust" quarter for GB, with revenue up 6.9% and both retail and hospitality channels experiencing growth. In Brazil, revenue rose 21%, including the benefit of a recent acquisition, while other international markets saw revenues jump 6%, with Ireland leading the way at 12.5% growth. Revenue in France was up 1.1%.
The company hailed "strong" trading in December, with group revenue 12.1% higher and volumes up 6.4%.
Chief executive Simon Litherland said: "We are pleased with such a positive start to the year. Our performance in the first quarter was strong and in-line with our expectations, as we continue to offer consumers value as well as great taste, with our portfolio of family favourite soft drinks brands.
"We have exciting plans for the year ahead across our markets, with new innovations and engaging marketing activations, including Pepsi's first brand refresh in 14 years.
"More broadly, Britvic is a well-invested business, with a clear growth strategy. We remain confident of achieving growth this year within the range of market expectations, as well as continuing our track record of delivering superior returns longer term."
Britvic (BVIC)