UK: Britvic sees FY sales climb
CEO Paul Moody said Britvic has delivered another strong revenue performance in 2010
Britvic has recorded an increase in full-year sales and said it remains "confident" for the year ahead.
For the 12 months ended 3 October, group sales climbed by 14.6% year-on-year to GBP1.14bn (US$1.08bn). Excluding the acquisition of French soft drinks maker Fruité in May, sales rose by 5.9%, the soft drinks maker said today (21 October).
The firm's carbonates division recorded volume growth of 10.2% driven by "successful innovations" such at the 600ml packaging format and the launch of Mountain Dew Energy, Britvic said.
The overall GB take-home market experienced a volume increase of 2.3% for the year, in line with the group's guidance. Britvic international, meanwhile, reported sales growth of 15.2%, led by a "record market share" for Fruit Shoot in the Netherlands, an expanded portfolio in the Nordic region and new travel-account wins.
A harsh consumer environment in Ireland, however, resulted in market declines for Britvic in the country. Republic of Ireland market volumes rose by 4.7% but value was down by 5.6%.
Paul Moody, chief executive, said: "Britvic has delivered another strong revenue performance in 2010, maintaining our track record of consistent growth. We are delighted with both the trading performance and integration of Britvic France, and our action in Ireland will put our business model in optimal shape ahead of eventual market recovery.
"The combination of revenue growth and a tight management of costs mean that we expect to meet market expectations for the group in 2010," he added.
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