Britvic profits jump to £63.2m
Britvic, the maker of Ballygowan and MiWadi, posted a 6.4pc rise in first-half profit, underpinned by cost savings, and stuck to its full-year guidance despite expectations for continued tough trading in its second half.
The firm, concentrates most of its operations in Ireland and the UK, said in a statement this morning that operating profit for the 28 weeks to April 12 had risen to £63.2m (€88.3m), ahead of a forecast of £61.4m, according to a Reuters poll.
Hindered by a price war among UK supermarkets and deflation in the sector, first-half revenue fell 0.7pc to £650.3m million pounds, with volumes and average prices both down.
Britvic said that while it expected challenging trading conditions to persist it remained on track to post a 2015 operating profit of between £164m and £173m, up from £158m in 2014.