Britvic has reported an 18.5% increase in revenue, to €854.97 million (£719.3 million), in its first half to 31 March 2022.
The soft-drink producer delivered double-digit revenue growth in the period, with volume and pricing growth across all business units.
The company enjoyed continued growth in at-home channels, with out-of-home channels recovering to their pre-Covid levels.
Simon Litherland, chief executive officer, commented, “I am delighted with our first-half performance. We have accelerated revenue growth across our markets and made good progress against our strategic priorities.
“We have successfully executed pricing and cost actions to mitigate significant levels of inflation while continuing to rebuild investment, to support our near- and longer-term growth ambitions.”
Looking Ahead
The company forecasted that it will continue to generate strong cash flow and has increased the interim dividend by 20%.
The Ballygowan and Robinsons owner noted that, as a result of the strong performance, the group is commencing an initial share buy-back programme of £75 million over the next 12 months.
“The current geopolitical uncertainty is likely to result in continued cost inflation and pressure on consumer spending – at least into 2023. I remain confident, however, that we will continue to successfully navigate the headwinds, thanks to our portfolio of leading brands, strong customer relationships, smart revenue management capability, and the resilience of our supply chain and our people,” Litherland added.
“This will enable us to maintain our positive momentum, progress our key performance metrics and strategic priorities, and continue to create value for all our stakeholders.”
© 2022 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more drinks news, click here. Click sign up to subscribe to Checkout.
