Friday 24 January 2020

Britvic still wary of volatile market

John Mulligan

John Mulligan

BRITISH drinks group Britvic, which owns familiar Irish brands including Miwadi and Club Orange, has said the Irish market "remains volatile".

The group added that it did not believe a stronger performance in the business during the last quarter reflected a sustained improvement. Releasing third-quarter results yesterday, Britvic noted that its sales in Ireland had been flattered by the timing of Easter this year and also by the implementation of a business transformation programme.

The group's revenue in Ireland for the period was €13.1m, which in sterling terms represented a rise of 8.6pc year-on-year. In euro terms, Britvic Ireland's revenue has fallen 6.6pc in the year to the beginning of July, and is down 5.7pc on a sterling basis. Overall group revenue rose 16.2pc to £289.5m (€345m) in the quarter. Britvic said its average realised price in Ireland slipped 1pc during the last quarter and has fallen 4.3pc in the year to date. Its volume sales in Ireland were 15pc higher during the quarter, but are down 1.5pc this year.

Irish Independent

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