J20-maker Britvic boosted by non-alcoholic shift before Carlsberg deal
A shift towards healthier drinking patterns has driven Britvic to new heights this year ahead of its acquisition by Carlsberg.
Britvic told markets this morning revenue in the year to September 30 increased 9.5 per cent to £1,89bn.
Adjusted earnings before interest and tax (EBIT) increased 15.2 per cent to £250.9m, while EBIT margin increased 60 basis points to 13.2 per cent.
Britvic said profit after tax increased 1.8 per cent to £125.8m, while adjusted earnings per share reached 69.5p, an increase of 13.9 per cent.
Emerging brands, such as plant-based milk and shots brand Plenish, grew by an average of 52.1 per cent during the year, while revenue across all brands are by an average of 5.5 per cent.
The company said it had a “continued focus on healthier people” with “great-tasting low-calories drinks”.
Consumers in the UK have been increasingly turning to non-alcoholic drinks like Britvic-made J20, with a particular push from the younger generations.
The company also performed well in Brazil, with both established and acquired brands in high double-digit revenue growth.
Chief executive Simon Litherland said: “We have delivered another excellent financial performance this year, with strong growth across our markets and portfolio of market-leading brands.
“We have also continued to ensure the business is fit for the future, adding more capacity, investing in our people and significantly increasing investment in marketing and innovation.
“Subject to approval from the regulatory authorities, we anticipate that the acquisition by Carlsberg will complete in the first quarter of 2025. I am confident that the prospects for our brands and people are extremely positive, and I look forward to them going from strength to strength.”
Danish brewing giant Carlsberg agreed to acquire the British soft drinks maker for £3.3bn in July, in a significant push into the UK non-alcoholic drinks market. The company incurred a £21.3m charge related to its proposed acquisition by Carlsberg.
Britvic shares have risen more than 50 per cent in the year to date, including a significant after the deal was announced.
Investment this year included a £25m upgrade investment in its national distribution centre in Lutterworth, Leicestershire, and a new canning facility to bring more products in-house.