Britvic plc (LON:BVIC) has announced its Q1 Trading Statement to 31 December 2023
Simon Litherland, Chief Executive Officer commented:
“We are pleased with such a positive start to the year. Our performance in the first quarter was strong and in-line with our expectations, as we continue to offer consumers value as well as great taste, with our portfolio of family favourite soft drinks brands. We have exciting plans for the year ahead across our markets, with new innovations and engaging marketing activations, including Pepsi’s first brand refresh in 14 years.
“More broadly, Britvic is a well-invested business, with a clear growth strategy. We remain confident of achieving growth this year within the range of market expectations, as well as continuing our track record of delivering superior returns longer term.”
| To 31 December 2023 | YOY Growth (at constant currency) | ||||
| Revenue | Group | GB | Brazil | Other International | |
| Q1 | £443.5m | +8.1% | +6.9% | +21.0% | +6.0% |
In the first quarter, trading was in-line with management’s expectations with Group revenue increasing 8.1% to £443.5m on a constant currency basis (reported +7.9%) and volume +1.7% versus last year.
Performance highlights
· Like-for-like Group revenue growth with both positive price/mix and volume growth.
o Robust quarter for GB, with revenue +6.9% and both retail and hospitality channels in growth.
o Strong growth in Brazil with revenue +21.0% including benefit of recent acquisition.
o Other International markets revenue +6.0%, led by Ireland revenue +12.5%. France revenue +1.1%, with strong price/mix, offsetting a volume decline.
· Strong December trading, with Group revenue +12.1% and volume +6.4%, benefiting from like-for-like growth and recent acquisitions.
Britvic interim results, for the six months ending 31 March 2024 will be announced on 15 May 2024.
