Soft drinks firm Britvic, which owns the Ballygowan and MiWadi brands, has reported a "robust" third quarter performance, on the back of volume growth and a positive price/mix.
In a trading update for the three months to the end of June, the company said its revenues rose by 9.9% to £476.7m compared to the same time last year
Britvic, which also makes other brands including Tango, J2O, Fruit Shoot, Teisseire, Club and TK, said its full year revenue and EBIT are anticipated to be within the range of current market expectations.
It said its UK revenue grew 10.1% compared to the same time last year, with volume growth in both retail and hospitality channels, as well as the impact of revenue growth management actions in response to inflationary pressures.
It also noted that its revenue in Ireland benefited from positive price/mix and volume growth, while a strong price/mix more than offset soft volumes in France.
But revenue declined 1.9% in Brazil compared to the previous year.
Britvic today also said it has expanded its portfolio in the UK through the addition of Jimmy's Iced Coffee, which it described as a "highly appealing consumer brand in a strongly growing market segment".
In the year to June 2023, Jimmy's Iced Coffee generated a retail sales value of £17m, an increase of 43% on the previous year.
In Brazil, the company said it is also extending both its brand portfolio and its regional footprint in the country though the acquisition of the energy brand Extra Power.
It said that with a 42% market share in its core regions near Brasilia, Extra Power enables access to the fast-growing, high-margin energy category in Brazil.
"These transactions are aligned to our strategic priorities and provide further opportunities to accelerate our strong growth trajectory," Britvic stated.
"Consumer demand for our portfolio of leading family favourite brands remains buoyant ahead of the key summer trading period, as we continue to offer consumers great quality and value at affordable prices," Britvic's chief executive Simon Litherland said.
"We expect to deliver full year revenue and profit within the range of current market expectations," he added.
