In the last quarter revenues declined by 8.5 per cent “materially due to the performance of third-party brands distributed via the licensed wholesale business,” stated Britvic in its full year trading update.
For its own brands average realised price was up 3.9 per cent while volumes in the quarter were down 4.6 per cent. However, according to the company, “Britvic Ireland continues to hold its market share, the Irish market remains very challenging with the average shopping trip spend now at its lowest level since 2005”.
Britvic Group revenues were down 2.6 per cent to £1.26 billion due to the Fruit Shoot recall during the year, it claimed. Last year, revenues were up 14.6 per cent as a result of strong pricing and international growth.
Meanwhile talks with AG Barr on a possible merger continue.