Business World

Monday 21 October 2019

Revenue declines at Britvic Ireland

CEO Simon Litherland
CEO Simon Litherland
Ellie Donnelly

Ellie Donnelly

Reported revenue in the Irish arm of drinks group Britvic declined in the 28 weeks to 14 April.

This was due to a fall in the sale of third-party alcohol brands through the group's wholesale division to the on-trade.

Following the introduction of the sugar sweetened drinks tax in Ireland, the group initially saw strong market growth in low and no sugar variants and significant declines in regular volumes, though this has now stabilised, Britvic said in a trading update.

Overall, and organic revenue at the group increased 1.9pc to £769.2m (€876.5m). Meanwhile, organic adjusted earnings before interest and tax increased by 5pc to £83.7m (€95m).

The group’s profit after tax for the 28 week period was up 4.8pc to £34.9m (€39.7m).

Britvic said the soft drinks levy in the UK had accelerated consumer trend towards its low/no sugar portfolio.

Simon Litherland, CEO of Britvic, said: "I am pleased to report that we have delivered another strong performance in the first half of the year."

"As we anticipated, the soft drinks levy has benefited our portfolio, accelerating the consumer trend towards our heartland of low and no sugar brands."

Online Editors

Also in Business