Britvic full-year profits, revenue rise amid strong consumer demand
By Michele Maatouk
Date: Wednesday 20 Nov 2024
(Sharecast News) - Drinks maker Britvic - which is in the process of being taken over by Carlsberg - hailed "another outstanding performance" on Wednesday as it pointed to strong consumer demand.
In the year to 30 September, pre-tax profit grew to £173.2m from £156.8m in the previous year, while adjusted earnings before interest and tax rose 15.2% to a record £250.9m.
Revenue increased 9.5% to £1.9bn and Britvic said this was achieved through growth in both volume and price/mix, "reflecting strong consumer demand for our brands and appropriate revenue growth management actions".
Volume grew 3.1%, driven by both organic growth and the Extra Power and Jimmy's brand acquisitions.
The company cited strong demand for its portfolio of family favourite brands, including Pepsi, Tango, Lipton, MiWadi and Ballygowan.
Chief executive Simon Litherland said: "We have delivered another excellent financial performance this year, with strong growth across our markets and portfolio of market-leading brands. We have also continued to ensure the business is fit for the future, adding more capacity, investing in our people and significantly increasing investment in marketing and innovation.
"I am extremely proud of what we have achieved, and I thank the entire Britvic team for their commitment and passion to deliver such a great result in a challenging environment. Subject to approval from the regulatory authorities, we anticipate that the acquisition by Carlsberg will complete in the first quarter of 2025. I am confident that the prospects for our brands and people are extremely positive, and I look forward to them going from strength to strength."
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