The soft drinks supplier of brands such as Robinsons, Tango, J2O, reported that COVID-19 had impacted its performance. It said it had seen “significant declines” in out-of-home consumption, which were partly offset by strong growth in at-home consumption.
Britvic reported year-to-date revenue of £1bn, a decline of 5.1% on last year, while revenue in its third financial quarter declined 16.3% to £328.9m.
In May the soft drinks company revealed that it had balanced the closure of the hospitality and food service sectors with strong at-home sales.
Summer Trading
Britvic said restrictions were starting to ease and the hospitality industry had gradually begun to re-open for the crucial summer trading period. But it stressed it was too early to judge the effect this would have on the business.
Simon Litherland, chief executive, said: "As expected, Q3 demonstrates the full market impact of the COVID-19 lockdown. We have continued to focus on the clear priorities we set to navigate through the pandemic, which have helped us to manage our business effectively and to deliver a third-quarter performance in line with our expectations.
Market share gains
“I am pleased with both the market share gains and the performance across the channels open to us, however in the near term there remains a high degree of uncertainty about the pace and level of full recovery. Looking further ahead, I am confident that the strong momentum we built up going into the pandemic will return, and that our long-term strategy will continue to create value for all our stakeholders."
The company combines its own leading brand portfolio including Fruit Shoot, London Essence, Teisseire and MiWadi with PepsiCo brands such as Pepsi, 7UP and Lipton Ice Tea which Britvic produces and sells in GB and Ireland under exclusive PepsiCo agreements.