Britvic buoyant as fizz returns to profits
Britvic saw pre-tax profits soar by more than a fifth as the soft drinks market returned to growth in 2010.
The Tango, Pepsi and J2O supplier made group pre-tax profits of £104.6 million in the 52 weeks to September 26, an increase of 21.5%. Turnover rose 14.6% to £1.1 billion.
Take-home sales in the GB market rose 6.3% in value and 2.3% in volume, after a 0.9% dip the previous year.
Chief executive Paul Moody said that cola, fruit and glucose/stimulant brands led growth in carbonated drinks, which were up 9.2% overall.
Squash sales were up 5.6% and juice drinks rose 7.4%.
Commenting on the group’s performance as a whole, Moody said: “This performance was achieved through the breadth and quality of our brand portfolio, strong delivery of innovation and a targeted and focused programme to grow our business internationally.
“While we expect the market to remain challenging, we are confident in our ability to compete strongly in the markets in which we operate.”