Britvic’s profits and sales surged in the first half of the year, underpinned by steady volume growth of 4.4%.

The drink giant’s chief executive Simon Litherland hailed an “excellent” performance as sales grew 11.2% to £880.3m while EBIT was up 17.7% to £100.4m in the six months to 31 March 2024.

The group said the “robust volume growth” came amid strong consumer demand for its brands, with “standout” growth from Pepsi Max, Ballygowan, MiWadi, Fruit Shoot and Lipton.

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Volume increased by 1.7% in the first quarter, however this accelerated to 7.4% in the second.

In Great Britain, overall volume increased 2.6% and sales up 8.8%, with brand highlights including Lipton Ice Tea, which following the launch of a new can format, accelerated its progress with volume growth underpinning a 27.6% increase in sales, while Fruit Shoot also delivered strong sales growth.

As a result of the positive performance, Britvic has today (15 May) announced its third share buyback programme of up to £75m executed over the next 12 months.

Looking ahead, Litherland said: “I am confident that we will deliver a strong full year performance. In the medium term, I firmly believe the continued execution of our strategy and growth drivers will allow us to sustainably outperform both the market and our historical top-line growth rate, leaving the company poised to continue our long-standing track record of delivering outstanding returns for our shareholders.”