Soft drinks company Britvic has reported “strong” growth across revenue, profit, margin and volume “in the face of significant headwinds.”
The Robinsons owner saw its profit after tax increase by 45.3% to £140.2 million while its revenue rose by 15.5% to £1.6 billion which it says was led by its portfolio of family favourite brands.
This also came as a result of its growth across retail and hospitality channels which benefitted from good summer weather and no lockdown restrictions, as in the previous two years.
Brands Pepsi, 7UP and Tango were all in double-digit revenue growth with Tango up 27.2% year on year due to increased distribution and flavour innovation.
“Our strategy has momentum, delivering accelerated top-line growth through consistent execution across our portfolio of trusted brands,” chief executive officer, Simon Litherland said.
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Britvic also reported supply chain resilience as it has continued to invest in its Great Britain manufacturing capacity which most recently included a £26 million installation of a fourth canning line at its Rugby site.
“We recognise that there are significant inflationary pressures on our consumers, customers and suppliers, and we remain focused on mitigating costs in a responsible manner through efficiency initiatives and revenue management, while continuing to invest in our brands, people, sustainability and infrastructure,” Litherland said.
He added that this “uncertain environment makes it difficult to forecast consumer demand in the near term,” however said that Britvic is drawing confidence from “the continued resilience and growth” of the category, brands and of those working within the company.
“Our strategy is working, with clear drivers to continue our consistent track record of growth and delivery of superior returns for all our stakeholders.”
