Home Business NewsBusiness British group Britvic sees hike in first quarter revenue

British group Britvic sees hike in first quarter revenue

31st Jan 18 9:11 am

Maker of Robinsons squash also said it is ‘well placed’ to deal with sugar tax

Revenue at British soft drinks group Britvic increased by 3.3 per cent year-on-year to £337.2m (€384m) in the three months to 24 December.

According to a trading update today, the revenue in Britain rose 1 per cent in the quarter, while carbonates revenue increased 4.9 per cent, driven by sucessful sale of Pepsi MAX. Overall revenue rose to £337.2m in the first quarter.

Soft drinks makers are rushing to reduce sugar in their products as the sugar tax is due to come into force in April this year. The maker of Robinsons squash and Tango said that the levy was bringing “a level of uncertainty” to the group. However, they are “well placed” to deal with it.

Simon Litherland, chief executive of Britvic, said: “The introduction of a soft drinks industry levy in the UK and Ireland brings a level of uncertainty, but we are well placed to navigate this given the strength and breadth of our brand portfolio and exciting marketing and innovation plans.”

“In addition, our continued focus on revenue and cost management and the delivery of the final phase of our business capability programme means we remain confident of making further progress in 2018,” Litherland said.

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