Soft drinks firm Britvic said third quarter revenue fell 5.1 per cent at constant currency after it was hit by wet weather and the product recall of Fruit Shoot and Fruit Shoot Hydro.
The recall, as a precautionary measure due to a packaging safety issue, shaved around 2% off third quarter revenue.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
GB third quarter revenue declined by 6.9% and year to date is down 0.8%. Average realised price (ARP) growth of 0.2% was constrained by adverse channel and brand mix, whilst volumes declined by 7.1%, it said.
US sales fared better and was not affected by the Fruitshoot recall.
Sales in Ireland declined by 11.1% and fell 10.3% year to date as a result of weak volumes, down 7.6% and ARP down 4.2%.
France revenue grew by 4.3% but volumes fell by 2.4%. Strong ARP growth continued in the quarter at 6.9% as a result of its price increase and pack size changes implemented earlier in the year, it said.
International revenue, down 1.3% and year to date up 6.2%, saw strong sales to the US however the Fruit Shoot recall materially impacted export markets in the Netherlands and Belgium.
CJ
-
Tesla seeks approval to supply electricity to UK homes – could it disrupt the energy market?Tesla has applied for a license to supply UK households with electricity, but taking on the biggest providers could prove challenging
-
Most Brits unaware onshore bonds can help beat inheritance tax – here’s howA little-known perk of certain types of bonds can let your loved ones off the hook when it comes to inheritance tax – but two-thirds of people have never heard of them
