Britvic Confident For Year With Strong First-Quarter Revenue

George Osborne Gives An Election Speech In Yorkshire

George Osborne Gives An Election Speech In Yorkshire

In Ireland, the maker of MiWadi saw its revenue increase by 16.5pc, as it benefited from the acquisition of East Coast in the second quarter of a year ago.

This has improved the company's presence in the growing on-trade channel. Organic revenue, which excludes the acquisition of Brazilian company Bela Ischia, increased by 0.7 per cent.

Ireland revenue saw double-digit growth at 17%, with the benefit of the acquisition of East Coast and increased owned-brand revenue.

The levy will see manufacturers pay 18 pence per litre on soft drinks with more than 5 grams of sugar per 100ml and 24ppl on those with more than 8 grams per 100ml.

Sales in the FTSE 250 group's home United Kingdom market, which accounts for over half of all revenues, rose 1% to £194.0mln thanks to strong demand for its fizzy drinks, although that masked an nearly 7% drop-off in stills sales. But revenue from still drinks declined 6.6 per cent.

Britvic said it had also absorbed a number of one-off costs related to Palmer and Harvey, one of its wholesalers that was recently placed in administration.

Simon Litherland, Britvic chief executive, said: "We have delivered a solid start to the new financial year".

"In addition, our continued focus on revenue and cost management and the delivery of the final phase of our business capability programme means we remain confident of making further progress in 2018", Mr Litherland said.

The maker of Robinsons squash and Tango fizzy drinks said it October it planned to withdraw from a factory in Norwich - a site co-occupied with Anglo-Dutch consumer giant Unilever, which subsequently said it would also pull out.

"But we are well placed to navigate this given the strength and breadth of our brand portfolio and exciting marketing and innovation plans", he added.

Soft-drink maker Britvic has reported an increase in revenue in the first quarter of the year, however, volume sales were down across almost all regions.

Britvic confirmed this morning that it will create 80 new jobs at its Rugby factory once it has ceased production in Norwich.

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