Britvic plc reports strong Interim Results for 2024
The standout growth from key brands were Pepsi MAX, Ballygowan, MiWadi, Fruit Shoot and Lipton
Britvic plc has announced its interim results for the six months ending 31 March 2024, showcasing financial performance and positive growth across key metrics.
Revenue surged by 11.2% to €1,033.5 million, with reported growth at 10.9%. Profit after tax increased by 10.1%1 to €70.3 million.
Britvic announced its third share buyback programme of up to €88.1 million, reflecting confidence in future prospects
Operational highlights
Britvic experienced robust consumer demand, with a volume increase of 4.4% in the first half of the year. All three business units achieved revenue, contribution, and margin expansion, signalling across-the-board growth.
Strong performance from key brands such as Pepsi MAX, Ballygowan, MiWadi, Fruit Shoot, and Lipton contributed significantly to overall growth. Revenue from new growth spaces increased by +63.5%, led by outstanding Plenish performance.
Simon Litherland, chief executive officer, Britvic, said: “Revenue growth of 11.2%, underpinned by volume growth of 4.4%, has translated into adjusted EBIT growth of 17.7% and earnings per share growth of 18.5%. We are also announcing our third share buyback of £75m over the next 12 months, reflecting our strong earnings, free cash flow generation, and positive outlook.
“Looking forward, I am confident that we will deliver a strong full year performance. In the medium term, I firmly believe the continued execution of our strategy and growth drivers will allow us to sustainably outperform both the market and our historical top-line growth rate, leaving the company poised to continue our long-standing track record of delivering outstanding returns for our shareholders.”
