Britvic: Brexit Decision Creates 'Consumer And Economic Uncertainty'
Drinks giant Britvic has said that the 'the decision by the UK to leave the EU creates additional consumer and economic uncertainty' in the marketplace, whilst the weakening of sterling will 'place pressure on [the company's] input costs in GB'.
Britvic made the statement as it posted a 0.7% decline in organic revenue, to £326.5 million, in the three months to 3 July.
Overall, however, the group saw a 5.3% increase in total group revenue, to £346.3 million, with volumes up 8.8%.
The company said that its GB soft drinks business 'declined 7.5% in June following a particularly wet month, resulting in a quarterly decline of 2.6%'.
In Ireland, revenue increased by 10.6%, while in France, revenue was down 2.0%.
"Our strategy to leverage our market leading brands in our core markets, expand internationally, continue to invest in innovation and focus on cost control, means that we are well placed to continue to deliver our long-term strategic priorities and create value for our shareholders," said Simon Litherland, Britvic chief executive.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones.