Strong year for Mi Wadi owner Britvic as sales soar to €155m
Published 30/11/2016 | 07:35
Ballygowan-owner Britvic Ireland has felt the benefit of the weak sterling as sales here over the last year increased by 9.4pc to £131.7m (€154.6m).
Revenue rose by 5.8pc on a constant currency basis with volume growth of 3.6pc as the company posted its sixth consecutive quarter of expansion.
Britivic also announced its intention to acquire Dundalk-based East Coast Suppliers, a licensed wholesaler that services over 1,000 pubs, bars, and restaurants.
The drinks company said it intends to merge East Coast with its own wholesale business, Counterpoint.
The Mi Wadi-maker now has over 30pc of the "no added sugar" marketplace and has launched five new products in the area. Most (60pc) of the company's sales are now in the low and no sugar segment.
Britvic chief executive Simon Litherland said the company delivered a strong set of results.
"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.”