Soft drinks company Britvic share price slipped by almost four per cent this morning, despite recording revenue growth in its preliminary results.
Britvic, which makes Robinsons and J2O, and whose main markets are in Ireland, France and the UK, said operating profit should rise next year from the £158.1 million earned in the 12 months to September, beating its own predicted range of £148.
Overall revenue for the year grew 2.4 per cent to £1.34 billion.
The company said competition between retailers in the coming year would likely put pressure on prices and weigh on sales growth.
However, there was some concern among investors by the company’s admission of a slow start to the new financial year.
Britvic said it will further invest in capacity, including a £25 million spend on a newplastic bottle line and warehousing.
Chief executive Simon Litherland said, "This is a strong set of results and we have made excellent progress during the year implementing our new strategy. We have delivered revenue and margin origin growth, and profit significantly ahead of last year, despite challenging trading conditions in each of our markets."