Revenues decline at Britvic Ireland
Revenues at Britvic Ireland grew 4.6% to €102.55 million (£90.6m) in the 28 weeks to the 14th April 2019 from £86.6 million in the same period in 2018 according to Britvic plc’s Interim Results, published recently.
4 June 2019 | 0
However at constant exchange rates this translated to a decline of just under 1% as volumes declined by 4.5%.
The reported revenue declined due to a fall in the sale of third-party alcohol brands to the on-trade through its Counterpoint wholesale division, according to Britvic.
Britvic plc’s total organic revenue was up 1.9% to £769.2 million from £733.2 million.
“While uncertainty related to Brexit continues, we have put in place contingency plans to deal with the possibility of a no deal scenario including holding higher levels of inventory in the run-up to the now expired 29 March 2019 deadline and extending that contingency in view of the extension agreed between the UK government and the EU,” stated the company, “We have incurred additional warehousing cost to accommodate this. We believe we are well-placed to deal with the uncertainties that these delays inevitably bring and will continue to evolve our plans as the situation develops.”