Britvic has posted a healthy rise in interim profits and revenue after seeing strong demand for its soft drinks, with standout performances from Tango and Pepsi MAX.
Over the six months to 31 March, the group’s operating profit climbed 21.5% on a constant currency basis to £80.7m on revenue up 7.9% to £794m. Operating margin rose 120bps to 10.2%, aided by a planned phasing of A&P expenditure into the second half.
Britvic stated that it was “successfully” managing the challenging inflationary environment, with consumer demand remaining solid and only a modest decline in volumes. The company noted that it had been able to mitigate cost inflation pressures through a combination of revenue growth management actions and cost discipline.
Chief Executive Simon Litherland said: “Our continued focus on lower calorie, healthier drinks has resulted in some standout performances, including Pepsi MAX and Tango in Great Britain as well as Ballygowan ‘Hint of Fruit’ in Ireland.
“We have successfully mitigated the impact of the challenging inflationary environment, while continuing to offer consumers great quality and value at affordable prices. Looking ahead, we will be activating a series of exciting marketing and innovation campaigns this summer.”
