Blog: Sun shines on Britvic results
Michelle Russell | 23 July 2010
Britvic recorded an increase in third-quarter sales this morning and insisted it remains confident of meeting market expectations for its full financial year.
No doubt the summer sunshine has had a positive impact on Britvic’s figures, as it has done for most soft drinks firms this year.
Official figures show that the UK has experienced its hottest June this year since 1975, while the north-west has experienced its driest period since 1929.
Of course, this is sweet music to the ears of UK soft drinks firms and bottled water producers, yet there are likely to be other factors boosting the Tango and Robinsons maker’s group profits.
In May, Britvic submitted a binding offer to acquire independent French soft drinks maker Fruité Entreprises for EUR237m (US$294m). Britvic said the deal will provide it with an entry point into the attractive French soft drinks market, which had a value of EUR12.5bn in 2009.
Britvic France, the newly-created division comprising Fruité, contributed sales of GBP23.2m for the month of June.
Add to that Britvic’s good track record in the UK with Pepsi brands and it was inevitable the firm would release sparkling results.
Yet, as I sit here writing this blog and a dark cloud passes over, I hope, for Britvic’s sake at least, that the summer holds out a little longer.
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