Britvic reports “excellent progress in a challenging market”
Britvic plc released it preliminary results on 22 November 2023 for the year ended 30 September 2023 describing its results as ‘excellent progress in a challenging market’.Britvic Ireland is part of Britvic plc, a leading branded soft drinks business in Europe and South America that operates in and exports to over 100 countries. Britvic Ireland is Ireland’s number one domestic producer of soft drinks and the number two soft drinks company (by volume) operating in the Irish market. 70% of soft drinks consumed in Ireland are imported and 30% are domestically manufactured, of which Britvic Ireland produces 28%.
Britvic’s Irish brands include Ballygowan, MiWadi, Club, Cidona and TK and the broader Britvic group brands include Robinsons, Fruit Shoot and London Essence Company as well as PepsiCo brands like Pepsi and 7UP which are produced and marketed here under licence.
Some of the group financial headlines for the past year were that revenue increased 6.6% to £1,748.6 million (statutory increased 8.1%), driven by price/mix. Profit after tax decreased 11.6% to £124.0 million and full year dividend increased 6.2% at 30.8p, which is said reflects the Board’s confidence in its prospects and strong balance sheet.
Some operational highlights included demand remaining strong with modest volume decline due to tough Q4 comparable of the hot summer in Europe in 2022 and poor weather in July and August 2023.
The company successfully managed the inflationary environment with standout performances from Tango and Pepsi MAX.
According to Simon Litherland, chief executive officer, Britvic,
“We have delivered another set of excellent results, making strong progress across our People, Planet and Performance measures. Our portfolio of family favourite brands and focus on great tasting, healthier drinks offer both quality and value at affordable prices. We have continued to invest across our supply chain, adding capacity and upgrading technology, while also building our brands and portfolio, including the acquisitions of Extra Power in Brazil and Jimmy’s Iced Coffee in Great Britain. Looking ahead, we have clear strategic priorities for 2024 and an exciting programme of marketing and innovation launches coming to market. With our fantastic portfolio and talented, engaged team, I am confident Britvic will continue to make excellent progress next year and beyond, delivering growth and creating value for all our stakeholders.”
Britvic Ireland has been manufacturing soft drinks at Kylemore Road in Ballyfermot for the past 50 years and has been bottling Ballygowan at Newcastle West in Limerick for 35 years.
