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Shift in UK market puts Britvic's FY fiscal-2017 sales on the up - results

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  • Organic sales up 3% 
  • Reported sales in 12 months to 1 October jump 8% to GBP1.54bn (US$2.1bn)
  • Net profits dip 3% on one-off investment costs
  • 41% of group sales now come from outside of GB

Britvic FY fiscal-2017 by region - results data

Soft drinks producer Britvic has posted an increase in full-year organic sales as trends in its core UK market moved from volume to value growth.

Britvics Robinsons squash brands were under pressure in the UK

Britvic's Robinsons squash brands were under pressure in the UK

Organic sales, which discount currency fluctuations and Britvic's January purchase of Brazilian concentrates and juice firm Bela Ischia Alimentos, were up 3% in the 12 months to 1 October, the company said today. Reported sales climbed in the 12 months by 8% to GBP1.54bn (US$2.1bn).

The increases lagged those of Britvic's H1, when organic sales increased by 12%.

An increase in one-off costs continued to hit the bottom line in FY2017, thanks primarily to a GBP24.7m hit related to Britvic's three-year, GBP240m business capability investment programme, which kicked off in fiscal-2016.

According to Britvic, FY sales were boosted as the UK soft drinks market for the first time in several years saw value grow ahead of volume, as measured by Nielsen. Britvic said it led the value growth in the UK market and protected profits amid rising costs and currency instability. Britain's retail market has been hit by inflation and a weakened pound in the wake of a referendum vote last year to leave the EU.

Despite Britvic's optimism over the UK, sales for its stills brands in the region were down 5% on a reported basis. The company blamed a competitive squash category that dragged down prices for its Robinsons brand.

GB carbonates, which include the PepsiCo brands that Britvic bottles in the UK for the soft drinks giant, fared better, with reported sales up by 4% as volumes climbed 1%.

Meanwhile, Britvic highlighted its international expansion, which has seen non-GB sales jump from 36% of total sales last fiscal year to 41% this year. The company said it will continue to invest in growth and that its focus on innovation is delivering results. Just over 5% of revenue is now generated by owned-brand innovation, compared to 2% in 2010 and 4% last year, it said.

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Sectors: Company results, Soft drinks, Water

Companies: Britvic

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