LONDON (ShareCast) - (Sharecast News) - Analysts at Shore Capital Markets kept their 'hold' rating on Britvic in place on Monday following a "solid enough" set of first-half results from the beverage maker.
ShoreCap said it expects to see a similar second-half delivery from Britvic, but with "more (welcome)" volume growth.

Britvic's UK carbonated beverages business was said to be "well placed" for flexibility around price and promotion - potentially helping to negotiate a "tricky consumer and competitor backdrop".

Although ShoreCap acknowledged that Q4 faces "a tough weather-related comparative", its analysts believe this will be offset by the impact of last year's CO2 shortage throughout Q3.

The British broker said Britvic was showing "encouraging signs" of becoming a "more agile and competitive company" but cautioned that with the stock having gently re-rated since its 2018 full-year results, it has opted to "remain on the sidelines" for now.

ShoreCap said it would look to turn more positive if Britvic's business capability programme could create a "sustainable competitive advantage".

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