Britvic has published its final quarterly trading statement to 31 December 2022 reporting a ‘robust’ sales growth of over 7%.
The soft drinks company, owner of brands such as Robinsons, Pepsi, J2O and Tango, reported group revenue up by 7.3% to £411 million on a constant currency basis over the same period in 2021.
This ‘robust’ group revenue was in line with its expectations, as it reported strong Christmas trading, with global December revenue up +9%, and UK sales up 13.8%.
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Britvic also outlined a strong final quarter for Great Britain, with revenue up +9.8% delivered across both retail and hospitality channels.
Additionally, there was ‘modest’ decline in Brazil revenue of -0.4%, reflecting a focus on price mix to deliver a significant improvement in year-on-year margin in the first quarter.
Other international revenue was up +3.5%, led by Ireland with a strong price mix. France broadly fell flat with price mix growth offset by a volume decline.
“Our performance in the first quarter was robust and in-line with our expectations. Our portfolio of trusted, family favourite brands offer great value and continue to resonate strongly with consumers,” chief executive of Britvic, Simon Litherland said.
“We have continued to take decisive action to mitigate the impact of cost inflation with disciplined revenue management and a relentless focus on cost efficiency, to protect profit and margin.”
He added: “We have strong plans in all our markets and categories, including a brand refresh for Robinsons, pack and flavour innovation, as well as exciting marketing campaigns.
“Britvic is a well-invested business, with an agile supply chain and a capable and highly engaged team, which positions us well for the future,” Litherland said.
The news comes as Britvic reported “strong” growth across revenue, profit, margin and volume “in the face of significant headwinds” in November.
