Source - SMW
Britvic reported first quarter revenue rose 3.3% to £337.2m compared to the previous quarter, while organic revenue grew 0.7%. 

In Great Britain, or GB, the company saw revenue increase 1% as GB carbonates continued to outperform the market offsetting poor performance in GB stills during the quarter. 

In France, however, revenue fell 5.0% in a subdued market, compared to 6.3% revenue increase for the comparative period a year ago. 

In Ireland revenue increased 16.5%, benefiting from the acquisition of East Coast in the second quarter last year, which the company said had improved its presence in the growing on-trade channel.

International revenue declined 8.1%, compared to a 19.8% increase in first quarter a year ago which followed the launch of the Fruit Shoot multipack in the United States.

Brazil revenue increased 22.6%, benefiting from the acquisition of Bela Ischia in the second quarter of 2017, while organic revenue declined 6.5%, reflecting the continuation of the challenging consumer environment.

Simon Litherland, Chief Executive, said: 'We have delivered a solid start to the new financial year, with group revenue growing 3.3% ahead of a strong first quarter last year.'

'As we said at our preliminary results, 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.' 


At 8:54am: (LON:BVIC) Britvic PLC share price was -21p at 763p



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