Britvic toasts strong revenues as ‘affordable treat’ Pepsi Max booms
Britvic announced a positive set of full-year results today as the soft drinks maker was bolstered by inflation led price hikes and demand for sugar free Pepsi products.
The British soft drinks maker, which owns the likes of J20 and Robinsions, reported a 6.6 per cent jump in revenue year-on-year to £1.7bn and a 5.9 per cent in adjusted EBIT to £218m.
Britvic said the company showed signs of “resilience” despite poor weather in July and August impacting volumes.
Health conscious Brits favouring the likes of sugar free Pepsi Max was also a boon to the business, with the diet drink now the fastest growing cola brand in the UK, Brtivic said.
Its orange drink Tango also grew its revenues by 20.7 per cent during the year, as new flavours such as punch proved a hit with customers.
Britivc noted despite inflation leading the group to increase the costs of their products, demand for soft drinks has proved popular.
The firm said: “The category is a regular staple and an affordable treat, with demand once again proving resilient, as it has in previous periods of economic downturn and geopolitical volatility, with limited trading down to own label.”
The company has bolstered growth over the year with the acquisition of Jimmy’s Iced Coffee and several brands in Brazil.
It also announced a £75m share buyback in May, to be executed over the period to 30 April 2024 and today increased its full-year dividend by 6.2 per cent to 30.8p per share.