Britvic plc releases preliminary 2013 results
Deal with PAB to benefit US distribution
Britvic plc, Hertfordshire, United Kingdom, announced its preliminary results for the 52 weeks ending Sept. 29. The company reported full-year revenue growth of 4.4 percent to approximately $2.1 billion, with strong earnings before interest, taxes and amortization growth of 18.4 percent to $222.8 million.
In the United States, the company saw distribution of its Fruit Shoot juice drinks brand increase to 32 states following further expansion with PepsiCo Americas Beverages (PAB), Purchase, N.Y., and a new agreement with the independent bottler, Pepsi Cola Bottling Company of Pittsburgh.
Strategic highlights include the announcement of a 15-year bottling agreement with PAB for additional manufacturing and expanded distribution of Fruit Shoot in the United States. As part of the agreement, Fruit Shoot will be available in 41 states in 2014.
“We have delivered a strong financial performance in a year of significant change for our business,” said Chief Executive Officer Simon Litherland, in a statement. “We have grown revenue and price in all of our business units and gained market value share, resulting in operating profit growth in excess of 18 percent. … Today’s announcement of a new agreement with PepsiCo Americas Beverages (PAB) for significant additional expansion in the USA is further evidence of the growth opportunities that exist for our brands internationally.
“While we anticipate that the consumer environment will remain challenging in 2014, trading in the new financial year is slightly ahead of a strong first quarter performance last year, and we are confident of delivering [earnings before interest and taxes] in the range of £148m to £156m for the full-year,” he concluded.