Britvic today reports its quarter three trading performance for the twelve weeks to 5 July with group revenue at £322.3m, an increase of 1.0% on last year. This represents a solid performance in challenging trading conditions, and compared to last year when Q3 reported revenue grew 5.3%.
The firm remains confident of delivering EBIT in the previously stated guidance range of £164m to £173m.
For the UK, Q3 revenue declined 0.8%. GB carbonates revenue declined 0.9%, primarily due to negative price/mix of 0.8%. This was against a strong performance last year, when Q3 revenue increased by over 10%. Pepsi continued to gain volume and value share in the quarter.
Stills revenue declined 0.7%, an improvement on the 4.2% revenue decline in the first half of the year. During the quarter we benefited from the recent launches of J20 Spritz, Teisseire and the re-launch of Robinsons.
Ireland Q3 revenue grew 0.7% with a revenue increase on own brands largely offset by a decline in the licensed wholesale business, Counterpoint. Ireland has now delivered three successive quarters of revenue growth.
France Q3 revenue grew 7.1%, with a volume increase of 8.7%, materially outperforming a declining soft drinks market.
International Q3 revenue grew 6.8%, following the revenue decline in the first half of the year.
CEO Simon Litherland commented, “I am pleased to see the business back into revenue growth this quarter following the investment we have made in our brands and innovation launches in each of our markets. We have also executed some fantastic marketing campaigns, including Robinsons 80 year association with Wimbledon and the Teisseire sponsorship of the Tour De France.
'Despite continued challenging market conditions, we remain confident of delivering further profitable growth in 2015, in line within our guidance range of £164m to £173m, and we continue to invest behind the long-term drivers of growth.”