Britvic in line with full-year expectations

The maker of Robinsons and Tango reported a 0.3% rise in fourth quarter sales on constant exchange rates to £332.4m. Full year group revenue, excluding the company’s operations in France, for the 52 weeks to 2nd October stood at £1,290.4m, representing growth of 14.6% on the prior year.

Sales in Great Britain were up 2.5%, up 1.5% in France and up 9.5% across its international operations.

However, these gains were offset by an 8.3% decrease in sales in Ireland, where the company said that very challenging macro-economic conditions and disappointing weather in Ireland had led to the total soft drinks market contracting further.

In Great Britain fourth quarter revenue grew by 2.5% (full year: +2.7%). The company said that carbonates performed strongly with revenue growth of 8.3%, against a backdrop of a competitive market place and a strong prior year comparative.

It said that carbonates ARP growth of 3.4%, reflected its price discipline whilst also achieving volume growth of 4.6%.

Stills revenue in Great Britain declined by 5.2%, which the group said reflected the impact of the weaker economy on consumers with volumes down 4.0%; and ARP down 1.3% due to mix.

Paul Moody, chief executive, said: “Our GB, French and international business units have delivered positive volume, price and revenue growth in the full year, despite the continued challenging economic backdrop and poor weather over the summer period. Conditions in Ireland remain difficult.

“Our overall group performance reflects Britvic’s strength in having a diversified portfolio of great brands, a strong innovation programme and our focus on maintaining price discipline. We expect to deliver full year results in line with our expectations for the group in 2011.”