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Drinks maker Britvic posts full-year profit ahead of forecast

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PepsiCo

PepsiCo

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PepsiCo

British soft drinks group Britvic posted an 18 percent rise in full-year operating profit, ahead of its own expectations, helped by higher revenue and cost savings.

The Robinsons squash maker said on Wednesday that operating profit for the year was 158.1 million pounds, up 17.6 percent, and ahead of its expected range of 148 million to 156 million.

Revenues slipped markedly in the fourth quarter but were up 2.4 percent to 1.34 billion pounds for the full year, with both growth in both volume and prices. Improved cost savings also helped boost annual profits.

The company, which also makes and sells PepsiCo brands such as Pepsi and 7UP in Britain, said cost savings delivered a greater benefit in the year than originally anticipated.

Britvic rejected an all-share merger proposal from smaller rival AG Barr in July 2013 in favour of a cost-cutting drive aimed at funding expansion.

The group has since started selling its Fruit Shoot children's drink across the United States, Spain and India. It said it plans to launch multipacks of Fruit Shoot drink in the United States in the second half of 2015.

Online Editors