Ballygowan and MiWadi owner sees revenue exceed €550m in latest quarter

The company's Irish business benefitted from positive price and mix, and volume growth, with its international sector seeing growth of 13%
Ballygowan and MiWadi owner sees revenue exceed €550m in latest quarter

Trading in the quarter has been strong, with revenue increasing 9.9%, driven by positive price/mix and volume growth

Drinks group Britvic saw trade volumes rise by just under 10% following a "strong" trading quarter, driven by a robust period of positive volume growth and pricing.

The MiWadi and Ballygowan owner said it expected its full-year revenue and profit to be within the range of current market expectations, with chief executive, Simon Litherland adding that consumer demand remained buoyant ahead of key summer trading.

In the group's third quarter, it recorded revenue of £476.7m (€556m), with its international sector, which includes Ireland, rising by 13.3%. 

In addition, the company's Irish business benefitted from positive price and mix, and volume growth. The French business saw soft volumes, which was offset by pricing and mix.

Trading in the group's UK market rose by more than 10%, with Brazil the only market to see growth fall, decreasing by 1.9% in the quarter.

The group also noted two new acquisitions, Jimmy’s Iced Coffee in Britain, and energy brand Extra Power in Brazil, which it said will "accelerate its strong growth trajectory."

Founded in 2010, Jimmy’s Iced Coffee is the fastest-growing brand in the UK ready-to-drink iced coffee category, with Extra Power holding a 42% market share in its core regions near the Brazilian capital.

“Trading in the quarter has been strong, with revenue increasing 9.9%, driven by positive price/mix and volume growth," said Mr Litherland.

"Consumer demand for our portfolio of leading brands remains buoyant ahead of the key summer trading period. We expect to deliver full year revenue and profit within the range of current market expectations."

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