Last checked at 25 Jan 2024 07:00
Britvic plc
LEI: 635400L3NVMYD4BVCI53
25 January 2024
Britvic plc ("Britvic")
Q1 Trading Statement to 31 December 2023
"Positive start to the year with strong Christmas trading"
Simon Litherland, Chief Executive Officer commented:
"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."
To 31 December 2023 |
YOY Growth (at constant currency)
| ||||
|
Revenue |
Group |
GB |
Brazil | Other International |
Q1 | £443.5m | +8.1% | +6.9% | +21.0% | +6.0% |
In the first quarter, trading was in-line with management's expectations with Group revenue increasing 8.1% to £443.5m on a constant currency basis (reported +7.9%) and volume +1.7% versus last year.
Performance highlights
· Like-for-like Group revenue growth with both positive price/mix and volume growth.
o Robust quarter for GB, with revenue +6.9% and both retail and hospitality channels in growth.
o Strong growth in Brazil with revenue +21.0% including benefit of recent acquisition.
o Other International markets revenue +6.0%, led by Ireland revenue +12.5%. France revenue +1.1%, with strong price/mix, offsetting a volume decline.
· Strong December trading, with Group revenue +17.9% and volume +6.4%, benefiting from like-for-like growth and recent acquisitions.
Interim results, for the six months ending 31 March 2024 will be announced on 15 May 2024.
For further information please contact:
Investors: | |
Rebecca Napier (Chief Financial Officer) | +44 (0) 121 711 1102 |
Steve Nightingale (Director of Investor Relations) | +44 (0) 7808 097784 |
Media: | |
Steph Macduff-Duncan (Head of Corporate Communications) | +44 (0) 7808 097680 |
Stephen Malthouse (Headland) | +44 (0) 7734 956201 |
About Britvic
Britvic is an international soft drinks business, rich in history and heritage. Founded in England in the 1930s, it has grown into a global organisation with 39 much-loved brands sold in over 100 countries. The company combines its own leading brand portfolio including Fruit Shoot, Robinsons, Tango, J2O, London Essence, Jimmy's Iced coffee, Teisseire and MiWadi with PepsiCo brands such as Pepsi, 7UP and Lipton Ice Tea which Britvic produces and sells in Great Britain and Ireland under exclusive PepsiCo agreements.
Britvic is the largest supplier of branded still soft drinks in Great Britain and the number two supplier of branded carbonated soft drinks in Great Britain. Britvic is an industry leader in the island of Ireland with brands such as MiWadi and Ballygowan, in France with brands such as Teisseire, Pressade and Moulin de Valdonne and in its growth market, Brazil, with Maguary, Bela Ischia and Dafruta. Britvic is growing its reach into other territories through franchising, export, and licensing.
Britvic is a purpose-driven organisation with a clear vision and a clear set of values. Our purpose, vision and values sit at the heart of our company, driving us forward together to create a better tomorrow. We want to contribute positively to the people and world around us. This means ensuring that our sustainable business practices, which we call Healthier People, Healthier Planet, are embedded in every element of our business strategy.
Britvic is listed on the London Stock Exchange under the code BVIC and is a constituent of the FTSE 250 index. Find out more at Britvic.com
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.