Britvic PLC (LSE:BVIC) said a UK recovery helped it deliver better-than-expected quarterly revenues but that it continued to see inflationary pressures.
The FTSE 250-listed drinks maker generated revenue of £379mln for the three months to 31 December were up 14% on the same period a year earlier, or a 16.5% if including currency swings are ignored.
The performance was better than the 0.5% decline (6.6% constant currency growth) seen in its past full year, and 12.8% better than the first quarter two years ago, before the pandemic.
During the first quarter of its 2022 fiscal year, Britvic saw UK revenue grow 17.1%, Brazil 8.7% and other international operations up 17.9%.
UK at-home sales continuing to grow and out-of-home sales recovering in line with expectations, even though in December the Omicron variant negatively affected the out-of-home business.
“While we continue to experience inflationary pressures, our focus remains on minimising the impact on our business and I am confident we will continue to make progress this year and deliver strong returns for our shareholders," said chief executive Simon Litherland.