 shares rose nearly 5 percent on Wednesday after releasing strong preliminary results for the 53 weeks to October 2nd.){kind=link}
Britvic (LON:BVIC) shares rose nearly 5 percent on Wednesday after releasing strong preliminary results for the 53 weeks to October 2nd.
The UK-based soft drinks company saw pretax profit increase to £151.9 million, up from £137.6 million a the year ago period. Revenue increased to £1.43 billion, up 5.3 percent on a like-for-like basis. Adjusted earnings before interest, taxes, and amortization rose 8.4 percent to £186.1 million.
Britvic has declared a final dividend of 17.5 pence per share, giving a total dividend for the year of 24.5 pence, a 6.5 percent increase on last year.
In a statement, the company noted an “excellent first year in Brazil” after launching their Fruit Shoot drink in Sao Paulo, alongside “continued progress in the USA with Fruit Shoot multi-pack now on-shelf”.
Chief Executive Officer Simon Litherland commented:
“Britvic has delivered another strong set of results in challenging market conditions. In our core markets, we continued to take market share with a particularly strong carbonates performance. Internationally, we have had an excellent first year in Brazil and Fruit Shoot continued to grow in France, USA with the launch of multi-pack, and latterly in Brazil following its recent launch in Sao Paulo.
“We are confident we will mitigate inflationary input costs through a combination of revenue management activities and internal cost saving initiatives. The new financial year has started well and although 2017 will be another challenging year, we expect to deliver pre-exceptional EBITA in line with current market expectations.”
“The breadth of our portfolio, strength of our core brands and increasing innovation capability means we are well placed to adapt and evolve with consumer trends and customer needs that continue to change, probably faster than ever before.
“We have returned to like-for-like revenue growth and, through our transformational business capability programme, we continue to build a stronger, more efficient business.”
Britvic is one of the biggest soft drinks companies in Europe, whose portfolio includes Fruit Shoot, Robinsons, Tango and J2O.
Britvic (LON:BVIC) shares are currently up 4.65 percent at 573.50 (0912GMT).