Britvic has reported a 16.0% rise in annual adjusted EBIT to £206.0m as price hikes, promotional activity, and cost controls helped the soft drinks giant mitigate the impact of rising inflation.
Total revenue increased 15.5% to £1.62bn over the year to 30 September, driven by both price rises and volume growth.
The company noted that revenue growth had been led by its portfolio of brands, with growth in both the retail and hospitality channels, which benefited from the good summer weather and end of lockdown restrictions.
Britvic stated that its brands such as Fruit Shoot, Robinsons, and Tango had demonstrated their strength by taking on price increases while maintaining volume growth.
The company noted that current trading remains “robust and in line with our expectations”.
Simon Litherland, Britvic’s Chief Executive, commented: “We have delivered excellent results, with strong growth in volume, revenue and profit, in the face of significant headwinds.”
However, he added: “Looking forward, the uncertain environment makes it difficult to forecast consumer demand in the near term.”
