Britvic Interim Results – 28 Weeks – Ended 14 April 2019

Britvic has delivered another strong performance in the first half of the year.  Organic revenue increased 1.9% to £769.2m, organic adjusted EBIT increased 5.0% to £83.7m and adjusted EPS increased 5.2% to 22.3p and the interim dividend increased 5.1%. 

This builds on Britvic’s track record of 13 consecutive YoY halves of growing adjusted EBIT.

In GB, the Soft Drinks Industry Levy accelerated the consumer trend towards low and no sugar. This has been a key area of focus and innovation for a number of years, and Britvic’s portfolio of brands is well positioned to realise the opportunity this presents. Significantly, all its low or no-sugar variants were in growth during the period.

The highlights from the first half are as follows:

GB Stills

The three main brands, Robinsons, J20 and Fruit Shoot, grew revenue in the first half

Robinsons’s premiumisation strategy saw the brand again take market share, with consumers responding well to the launches of the Creations and Cordials ranges

GB Carbs

Pepsi MAX has continued to gain more value share than any other cola variant, while low/no sugar variants 7UP free, R Whites and Purdey’s were also in growth

Tango was in strong growth ahead of a major relaunch which will include refreshed branding, sugar-free flavours and multi-channel advertising campaign

Looking ahead, the Company remains confident of continuing to make further progress and achieving market expectations for the full year.