Ballygowan and MiWadi maker Britvic to records revenue growth in Ireland, despite headwinds

Britvic said it will introduce further price increases for its products next year as inflationary pressures are “expected to persist”,  but did not specify the markets or products which will experience the planned hikes. 

Britvic's Ballygowan Hint of Fruit product cornered one fifth of the flavoured water market in Ireland and contributed to overall growth.

Ballygowan and MiWadi owner Britvic recorded growth in its Irish market, despite economic headwinds.

In its annual results, revenue increased across all Britvic brands in its Irish market. Pepsi which went up by 17%, MiWadi climbed 18% and Ballygowan rose by almost 23%.

“Our clear strategy is delivering results and driving forward momentum,” said Kevin Donnelly, managing director of Britvic Ireland.

Britvic’s Irish market revenue increased by nearly 19% due to both volume and average revenue per litre (ARP) growth in addition to the lifting of lockdown measures, its results for the year ended September 2022 showed.

The company’s Ballygowan Hint of Fruit product cornered one fifth of the flavoured water market in Ireland and contributed to overall growth.

"We have delivered excellent results, with strong growth in volume, revenue and profit, in the face of significant headwinds,” said Simon Litherland, CEO of Britvic.

The company posted a 15.5% increase in revenue to almost €2bn, driven by both price and volume and the end of restrictive pandemic measures.

Founded in England in the 1930s, Britvic has grown into a global organisation with 37 brands sold in over 100 countries including London Essence, 7UP and Lipton Ice Tea which Britvic produces and sells in Britain and Ireland under exclusive PepsiCo agreements.

The international soft drinks business said it is confident about the resilience of its products, having weathered the Covid-19 storm, but said it is difficult to forecast consumer demand in the near term due to the current uncertain environment.

“Economic forecasts suggest that 2023 will be another challenging year, as inflationary pressures continue, and low consumer confidence is anticipated to persist across our main markets,” the company said.

Britvic said it will introduce further price increases for its products next year as inflationary pressures are “expected to persist”.

Apart from planned price increases in France, Britvic did not specify what markets or products which will experience price hikes.

“We recognise that there are significant inflationary pressures on our consumers, customers and suppliers, and we remain focused on mitigating costs in a responsible manner through efficiency initiatives and revenue management, while continuing to invest in our brands, people, sustainability and infrastructure,” said Mr Litherland.