Britvic has reported a first quarter revenue of £311.6m for the 12 weeks to 20th December, 4.8% ahead of last year.
However, when the acquisition of Brazilian squash maker Ebba is discounted, organic reported revenue fell 2.4% to £290.1m.
In the UK revenue declined 1.2% where a flat average retail price combined with a slightly reduced volume reflected continued tough trading conditions in the grocery channel. A strong performance by Pepsi Max meant that, overall, the company continued to take value share.
Simon Litherland, Britvic’s Chief Executive, commented: “As anticipated, our first quarter performance reflected both the prevailing challenging trading conditions and a slow start in October. However trading over the entire Christmas period in our core markets was encouraging, with revenue ahead of last year.”
Litherland reaffirmed Britvic’s EBITA guidance range of £180m to £190m for 2016, citing “strong marketing and innovation plans for the year ahead, and an ongoing focus on cost control.”
