Britvic plc has revealed a return to volume growth in its preliminary results of the year to 20 September 2024, released today.
The beverage company, which produces popular brands including Pepsi, Tango, MiWadi and Ballygowan, reported a 9.5% revenue increase, to £1,899 million, driven by both price and volume.
Its adjusted earnings before interest and tax (EBIT) increased by 15.2%, to £250.9 million, as reported EBIT increased by 12.6%.
Profit after tax for the company went up by 1.8%, to £125.8 million, while adjusted earnings per share increased by 13.9%, to 69.5p.
Carlsberg
In July, beverage giant Carlsberg announced its intention to buy Britvic, as it sought to create a UK beverage company and increase its non-alcoholic offerings.
On Wednesday, it announced its full-year dividend was 34.5p, including a 25p-per-share dividend, payable on completion of Carlsberg’s acquisition of Britvic.
While demand for Britvic’s popular brands remained strong, the company also saw a step change performance in Brazil, as both established and new brands reached high double-digit revenue growth.
The Lipton-maker also successfully scaled new growth brands, such as Plenish and Aqua Libra, in fast-growing categories.
Persistence
As consumers grow increasingly concerned with their health and well-being, Britvic has continued its offering of low-calorie drinks, which have been popular with shoppers.
Environmental concerns are also a key topic for consumers, and Britvic has continued its sustainability focus through investment in decarbonisation and water stewardship programmes.
All of this has culminated in a strong 2023/24 financial year for the group.
Speaking about the results, the managing director of Britvic Ireland, Kevin Donnelly, said, “We were pleased to deliver another year of impressive return growth in Ireland – up 7.8% on last year.
“Encouragingly, we saw a return to volume growth in Q4, with volumes up 5.9% on last year, and market share gains.
“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.”
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