UK: Britvic on course for FY profits rise as Q1 sales climb
- Sales in first three months of fiscal quarter rise by 2.8% to GBP311.8m (US$517.2m)
- Sales in UK in 12 weeks to 22 December increase by 1.5%
- International sales also up, by 5.6%
- Full-year EBIT forecast in-line with guidance
Britvic released its Q1 sales earlier today
Britvic remains on-track to deliver a rise in full-year profits, with sales in the first three months of its fiscal year delivering a slight increase.
The UK-headquartered company said earlier today (29 January) that sales in the three months to 22 December came in at GBP311.8m (US$517.2m), a year-on-year lift of 2.8%. Sales in Britvic's domestic market were up by 1.5% to GBP210.7m, driven by its CSD portfolio, which posted a 2.5% sales lift.
The firm's international operations saw quarterly sales climb by 8.7% to GBP11.3m, although this growth was hampered by the “phasing of concentrate shipments” to the US. “Fruit Shoot continued to grow its market presence in the US, whilst in India we remain on-track to launch Fruit Shoot in mid-2014,” the company noted.
“We delivered a robust Q1 performance in each of our core markets despite a challenging consumer environment,” said CEO Simon Litherland. “Trading in the first few weeks of Q2 is ahead of last year.”
Looking forward, Britvic reiterated its forecast, issued late last year, that EBIT in the full fiscal year should come in between GBP148m and GBP156m. In its previous fiscal year, the company saw EBIT come in at GBP135m.
The firm's share price has risen today, following the release of the interim statement: At 1100 GMT, shares were trading up 1.57% on yesterday's close, at GBP7.12.
To read the company's official release, click here.
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