BRITVIC PLC

BVIC
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Britvic : Robinsons owner Britvic sees revenues rocket as UK restrictions ease

07/22/2021 | 09:40am

Britvic, which owns Robinsons and Tango, has seen its revenues surge since restrictions eased as the soft drinks retailer was hit hard by hospitality closures.

Revenue at the company shot up 22.8 per cent to £384.8m in its third-quarter trading, as it said revenue has grown across all its units.

In total, however, the company’s revenue has lifted to just over £1bn in the year to 30 June.

Shares were up just over one per cent in its afternoon trading, taking its price to 970p per share.

Although Britvic had strong home-based sales, carried by supermarket retail, it said the UK easing of restrictions has led to a “significantly improved” performance.

Pre-pandemic, the company benefited from on-the-go consumption when ground to a halt once lockdown and work from home measures were imposed.

However, “the recovery of the out-of-home channel in Ireland lags the UK, reflecting the different paths out of lockdown”, Britvic said in a statement.

Soft drinks boss Simon Litherland said that although the company had shown positive results, there is still room for the pandemic to change.

“Some degree of uncertainty remains for now, however, as the full course of the pandemic is still unknown.

“That said, the momentum we had built up going into the pandemic has stood us in good stead throughout, and I am confident that we will continue to navigate our way through it.”