Britvic interim profits rise amid strong demand

(Sharecast News) - Drinks company Britvic posted a rise in interim profits and revenue on Tuesday as it noted strong demand and standout performances from Tango and Pepsi MAX, and hailed an "excellent" start to the year. In the six months to the end of March, pre-tax profit rose to £69.3m from £59.3m in the same period a year earlier, on revenue of £794m, up 7.9%. Operating profit came in at £80.7m, up from £67.1m.

The company declared an interim dividend of 8.2p a share, up 5.1%.

Britvic said consumer demand has remained solid, with only a modest volume decline in the first half. The company also said that it has been able to mitigate cost inflation pressures through a combination of revenue growth management actions and cost discipline.

Chief executive Simon Litherland said: "Our continued focus on lower calorie, healthier drinks has resulted in some standout performances, including Pepsi MAX and Tango in Great Britain as well as Ballygowan 'Hint of Fruit' in Ireland.

"We have successfully mitigated the impact of the challenging inflationary environment, while continuing to offer consumers great quality and value at affordable prices. Looking ahead, we will be activating a series of exciting marketing and innovation campaigns this summer."