Britvic has delivered excellent results, with strong growth in volume, revenue and profit, in its full year to 30 September, Simon Litherland, chief executive officer, Britvic said on Wednesday.
Its revenues for the year rose by 15.5% to £1.618 billion, while profits after tax increased 45.3% to £140.2 million.
Trusted Brands
The soft drinks firm noted that its revenue growth was led by the portfolio of family favourite brands such as Ballygowan and MiWad.
Britvic also showed growth in both its retail and hospitality channels, which benefited from the good summer weather and no COVID-19 lockdown restrictions this year.
"Our strategy has momentum, delivering accelerated top-line growth through consistent execution across our portfolio of trusted brands," commented Litherland.
"We recognise that there are significant inflationary pressures on our consumers, customers and suppliers, and we remain focused on mitigating costs in a responsible manner through efficiency initiatives and revenue management, while continuing to invest in our brands, people, sustainability and infrastructure."
Innovation Initiatives
The company noted that it generated £108 million in revenue from its innovation brands, which showed a 49% increase year-on-year.
“We are pleased with the performance of our innovation initiatives with Ballygowan Hint of Fruit capturing almost one fifth of the flavoured water market within a matter of months, and successful launches into the Energy Drinks category, driving 62% growth in the Energise Brand," Kevin Donnelly, managing director, Britvic Ireland added.
"Our Healthier People, Healthier Planet Strategy has led to further reductions in our carbon emissions, in packaging weight per serve, in calories per serve and our staff engagement has increased to 79%. Our clear strategy is delivering results and driving forward momentum.”
Looking Ahead
Looking forward, Litherland said that the uncertain environment makes it difficult to forecast consumer demand in the near term."
"We draw confidence however from the continued resilience and growth of our category, our brands and our talented people," he added.
"Our strategy is working, with clear drivers to continue our consistent track record of growth and delivery of superior returns for all our stakeholders."
© 2022 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more retail news, click here. Click subscribe to sign up for the Checkout print edition.
