Britvic PLC (LSE:BVIC) has reported a healthy 15.5% increase in full-year revenue to £1,618.3mln as pricing activity, promotional strategy, management of its mix and disciplined cost control helped to mitigate the impact of rising inflation.
“Revenue growth led by our portfolio of family favourite brands, with growth in both retail and hospitality channels, which benefited from the good summer weather and no lockdown restrictions this year” Britvic said in its results statement.
Brands have demonstrated the strength to take price increases, while maintaining volume growth, the company added.
Adjusted EBIT rose by 16.0% to £206.0mln and adjusted earnings per share of 57.3p was up 29.3%. Shareholders were rewarded with a 19.8% hike in the full-year dividend to 29p.
“Current trading remains robust and in line with our expectations” the company added.
However, Simon Litherland, Britvic chief executive officer commented: “Looking forward, the uncertain environment makes it difficult to forecast consumer demand in the near term.”