Soft drinks maker Britvic posts higher profit on strong demand (updated)
20/11/2024 08:26
(Adds details from results, CEO comment, and background in
paragraphs 2-6)
Nov 20 (Reuters) - Britain's Britvic BVIC.L reported a
rise in annual profit and revenue on Wednesday, helped by strong
demand for its soft drinks in the domestic market and Brazil.
"Britvic has not only delivered its best-ever financial
performance but also made significant strides in our strategic
priorities," CEO Simon Litherland said in a statement.
The company, whose acquisition by Danish brewer Carlsberg
CARLb.CO is under regulatory scrutiny, posted a 15.2% jump in
annual adjusted operating profit to 250.9 million pounds ($318.8
million), while revenue rose nearly 10% to 1.90 billion pounds.
Britvic's performance was boosted by volume growth across
Britain and Brazil in the year ended Sept. 30, which offset a
dip in volumes in other international markets.
The British beverages firm also said it expects to complete
its deal with Carlsberg in the first quarter of 2025, if it gets
regulatory clearances.
Britain's competition regulator last month launched a formal
probe into Carlsberg's 3.3 billion pounds deal with the
London-listed company that was announced in July to establish a
UK beverage "powerhouse".
($1 = 0.7873 pounds)
(Reporting by Pushkala Aripaka in Bengaluru; Editing by Rashmi
Aich and Subhranshu Sahu)
((Pushkala.A@thomsonreuters.com; X and LinkedIn:
@pullthekart;))