Britvic’s third quarter performance has seen an 11.2% increase in revenue reaching £431.1 million for the year ending 30 June 2022.
According to the statement, the FMCG producer’s growth is largely due to its Great Britain At-Home business, expansion in Brazil and easing Covid-19 restrictions also played a role, as phased lifting began during Q3 last year.
In terms of regional growth, its Great Britain revenue increased by 9.2% which was driven by the continued recovery of the Out-of-Home channel and further growth in the At-Home channel.
READ MORE: Britvic boosts commercial team with former Big 4 execs
“Year on year performance in the quarter reflects continued resilient demand for our portfolio of trusted, family favourite brands,” Britvic CEO Simon Litherland said.
“This summer we have a range of exciting marketing campaigns across all our markets, including a major new campaign for Robinsons in GB, and we will also be bringing back the Pepsi MAX taste challenge for the first time since the start of the pandemic.”
Brazil’s revenue had a sharp increase of 24.3%, as the company continued to expand its presence through both core and innovation brands.
Other International markets’ revenue increased by 12.7%, with both Ireland and France experiencing substantial growth.
Additionally, Britvic commenced a £75 million share buy-back, with 50% anticipated to be completed this financial year.
Litherland added: “We remain focused on mitigating the impact of inflationary pressures on our business; soft drinks is a resilient category, within which we have a well-invested business, a flexible operating model and a robust supply chain.”
“We are confident in our ability to deliver value for all our stakeholders and a full year performance in line with market expectations.”
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