Drinks group Britvic on track to hit profit targetsWednesday 29 January 2014 18.41
Drinks group Britvic has reiterated its guidance to deliver full year earnings before interest and taxes in the range of £148-156m sterling.
In an interim management statement, the company said that its group revenue rose up 3% in its first quarter ended December 22.
Britvic said its Irish operations recorded revenue growth of 2.1%. It said its underlying performance here has continued to improve, despite trading conditions remaining difficult.
The company's GB unit saw revenue growth of 1.5%, while its international division reported revenue growth of 5.6%. Revenues in France were up by 4.8% in the three month period.
"We delivered a robust first quarter performance in each of our core markets despite a challenging consumer environment," commented the company's chief executive Simon Litherland.
"We continued to make good progress implementing our new strategy and remain on-track to deliver our cost reduction initiatives as planned this year," the CEO added.
He said that trading in the first few weeks of the company's fiscal second quarter is ahead of last year.
Britvic Ireland's portfolio of brands include Ballygowan, MiWadi, Robinsons, Club and TK. It also holds a franchise deal to produce and distribute global brands such as Pepsi, 7UP and Mountain Dew Energy on behalf of PepsiCo in Ireland and the UK.