Soft drink maker Britvic posts boosted revenue amid warnings of inflation ‘across business’
Soft drink maker Britvic has reported soaring quarterly revenue even as hospitality venues were impacted by a return of Covid measures last month.
The FTSE-250 firm posted total revenue hit £373.9m on a constant currency basis, up 16.5 per cent compared to the October to December period in the previous financial year.
Total revenue rose 12.8 per cent compared to the October to December 2019 period, the last quarter before the pandemic.
Great Britain was a driver of growth, with revenue growth of 17.1 per cent, with the at-home channel continuing to grow and out-of-home recovering in line with expectations in October and November.
Its out-of-home business was affected in December when punters hesitated to head out to venues amid a surge in Covid cases.
The 7-UP maker said it was “experiencing inflationary pressures across the business,” in the trading update posted on Thursday morning.
“We remain focused on minimising the impact on our business through a combination of revenue management, smart procurement and disciplined cost control.”
Simon Litherland, chief executive, said the Hemel Hempstead-based business had continued to see “strong demand” for brands including Robinson’s, J2O and Tango.
He added: “We remain confident in our growth strategy, backed not only by our market-leading brands and our highly engaged employees, but also by our proven track record of successfully navigating headwinds.
“While we continue to experience inflationary pressures, our focus remains on minimising the impact on our business and I am confident we will continue to make progress this year and deliver strong returns for our shareholders.”