Revenues up 13% at Britvic Ireland
During this time volumes rose 7.5% to 112 million litres while Britvic Ireland’s brand contribution margin decreased from 34.2% of revenue to 33.9%.
According to Britvic’s H1 results, the Irish market has continued to grow, with both owned brands and its Counterpoint wholesale revenue increasing.
Owned brand growth was led by the stills portfolio with Ballygowan and MiWadi the major growth drivers.
Counterpoint benefited from an improved offering across its alcohol and snacks range as well as a small benefit from the acquisition of East Coast distributors towards the end of the period.
“Whilst brand contribution increased, margin declined largely as a result of adverse mix and rising product costs impacting ahead of revenue management actions,” stated the company.
In his strategic review of H1, Britvic’s Chief Executive Simon Litherland stated, “The year has started very well in Ireland, with growth in both our own brand portfolio and the Counterpoint wholesale business. The biggest drivers have been Ballygowan water and MiWadi squash, both benefiting from the consumer trend towards healthy hydration.
Overall, Britvic grew revenues by an organic 3.7% to £756.3 million in the 28 weeks to the 26th April.