Drinks company Britvic has reported a profit after tax of £125.8m for the 12 months to the end of September, an increase of 1.8% year on year.
Britvic said its group revenues rose 9.5% to almost £1.9 billion, while its adjusted earnings per share jumped by 13.9% to 69.5 pence.
The company said its performance was helped by strong demand for its portfolio of soft drinks that aided both domestic growth and in major market Brazil.
In Ireland, Britvic owns brands including Ballygowan, MiWadi, Club, Cidona and TK.
The broader Britvic group brands such as Robinsons, Fruit Shoot and London Essence Company as well as PepsiCo brands like Pepsi and 7UP which it produces and markets under licence.
The company said its performance in Ireland remained strong during the year, with revenue up 7.8%, offsetting a modest volume decline of 1.8% in the year.
It noted that Pepsi and Ballygowan were the main drivers, with both the core water offering and Hint of Fruit delivering strong growth.
February saw the launch of the Deposit Return Scheme (DRS) for PET bottles and cans in Ireland and as expected, Britvic said it saw a volume decline in the early months after the scheme's launch.
But it said it saw a return to volume growth, up 5.9% on last year, in the fourth quarter.
Britvic said it had completed a supply chain programme to release additional production capacity in the Irish factories by introducing new work rosters while also implementing cost-efficiency savings within the manufacturing and warehouse operations at the end of 2023 which enabled it to reduce the cost and complexity created by introducing a DRS.
Kevin Donnelly, Managing Director of Britvic Ireland, said the company delivered another year of impressive revenue growth in Ireland, up 7.8% on last year.
"Encouragingly, we saw a return to volume growth in the fourth quarter, with volumes up 5.9% on last year, and market share gains," he said.
"We continue to invest in our manufacturing facilities in Ireland, introducing tethered caps in July, expanding capacity for Ballygowan Hint of Fruit, and introducing sleek cans across our carbonated drinks portfolio," he added.
Britvic said its performance in the UK has been strong, with robust volume growth and favourable price/mix. It noted that volume growth was driven by the retail channel, with a weaker hospitality channel.
"From a revenue perspective, both channels delivered revenue growth, as did its owned and PepsiCo brands. Encouragingly, we have delivered volume growth across all quarters, with quarter four volume up 2%, despite the poor summer weather," the company added.
Meanwhile, Britvic said its performance in Brazil was very "strong", with both existing brands and acquired brands contributing to revenue growth of 35.3%.
"A combination of factors underpinned the growth. We have continued to focus on categories and regions which enable us to build scale and grow profitability. Growth was achieved across our Concentrates range as well as RTD formats such as Fruit Shoot and Grape juice," it added.
But volumes in France declined compared to last year. Britvic said that while branded volumes improved in the second half of the year, total volume declined as it took a strategic decision to exit private label contracts, and it faced stiff competition in the juice category.
Simon Litherland, Britvic's chief executive, said the company delivered another excellent financial performance this year, with strong growth across its markets and portfolio of market-leading brands.
"We have also continued to ensure the business is fit for the future, adding more capacity, investing in our people and significantly increasing investment in marketing and innovation," the CEO said.
"I am confident that the prospects for our brands and people are extremely positive, and I look forward to them going from strength to strength," he added.
Earlier this year Carlsberg agreed a deal to buy Britvic for £3.3 billion, a move the Danish brewer said would forge a UK beverage "powerhouse".
Simon Litherland said today that subject to approval from the regulatory authorities, he anticipates that the acquisition by Carlsberg will complete in the first quarter of 2025.
