Profits up 9% at Robinsons owner Britvic

FinanceFMCG

The company behind Robinsons and Tango has hailed its “disciplined cash management” as full-year profits rose 9.1 per cent.

Britvic profits stand at £103.2 million after tax, up from £94.6 million last year but well below 2018’s £117.1 million.

Revenue for 2021 stands slightly over £1.5 billion, a 6.6 per cent increase in 12 months.

The drinks giant is “confident” of higher revenue and profit for 2022 despite inflation, which suggests it could be considering price rises.

READ MORE: Britvic moves to 100% recycled plastic bottles

Fellow multinationals Nestlé and Kraft Heinz made “inflation-justified” price increases this year, blaming soaring labour, energy and materials costs.

Payouts to shareholders are up by 12 per cent.

Chief executive Simon Litherland said Britvic had “recovered strongly” from the pandemic, but noted the approaching threat of inflation.

However, he said the company would “mitigate” this through “our agile and resilient supply chain, revenue management and cost saving actions”.

Britvic shares spiked when markets opened this morning, peaking at 895.50p, before dropping down to the 882p mark.

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