Britvic plc has delivered 'excellent progress in a challenging market,’ according to its preliminary results for the year ended 30 September 2023.
Group revenue increased by 6.6%, to £1,748.6 million, during the period, compared to the same period last year.
Operational Highlights
According to the soft drinks giant, demand remained strong for its brands, despite a modest volume decline due to the tough fourth quarter of 2023, which brought poor weather in July and August compared to the hot summer in Europe in 2022.
The company noted that it successfully managed the inflationary environment, with 'standout performances' being delivered by its Tango and Pepsi MAX brands during the period.
Other operational highlights included the leveraging of its brand building capability to scale Plenish, Aqua Libra and its other global premium brands, bolt-on acquisitions in Great Britain and Brazil 'to access fast-growing categories,' and continued investment in growth capacity, with new lines operational in Great Britain and Brazil.
'Strong Progress'
Simon Litherland, chief executive officer, Britvic, said that the group has "delivered another set of excellent results, making strong progress across our people, planet and performance measures.
"Our portfolio of family favourite brands and focus on great tasting, healthier drinks offer both quality and value at affordable prices," he added.
"We have continued to invest across our supply chain, adding capacity and upgrading technology, while also building our brands and portfolio, including the acquisition of Extra Power in Brazil and Jimmy’s Iced Coffee in Great Britain.
"Looking ahead, we have clear strategic priorities for 2024 and an exciting programme of marketing and innovation launches coming to market. With our fantastic portfolio and talented, engaged team, I am confident that Britvic will continue to make excellent progress next year and beyond, delivering growth and creating value for all our stakeholders.”
Britvic Ireland
Britvic Ireland is part of Britvic plc, a leading branded soft drinks business in Europe and South America that operates in – and exports to – over 100 countries.
With a brand portfolio dating back to the invention of soda water in 1773, Britvic Ireland is one of the oldest soft drinks companies in the world and remains the only large-scale soft drinks manufacturer in the Republic of Ireland, employing 360 people across the island.
Today, Britvic Ireland is Ireland’s number one domestic producer of soft drinks and the number two soft drinks company (by volume) operating in the Irish market.
70% of soft drinks consumed in Ireland are imported and 30% are domestically manufactured, of which Britvic Ireland produces 28%.
