Rain and recall erode Britvic sales
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.
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.
Article continues belowTry 6 free issues of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
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
