Britvic reports record profit growth amid strong demand, strategic investments 

UK – Britvic has announced a 1.8 percent year-on-year increase in profit after tax to £125.8 million (US$132.34M) for the 12 months ending September 2024.  

This record performance was driven by robust demand for its soft drinks in the UK, Ireland, and Brazil, alongside strategic investments and innovation. 

Group revenues surged by 9.5 percent to nearly £1.9 billion (US$2B), with adjusted earnings per share rising 13.9 percent to 69.5 pence.  

CEO Simon Litherland hailed the achievement, stating, “Britvic has not only delivered its best-ever financial performance but also made significant strides in our strategic priorities.” 

In the UK, Britvic experienced strong volume growth in the retail channel, despite a weaker performance in hospitality and challenges in the juice category.  

The company strategically exited private label contracts, focusing on its branded portfolio, which includes Robinsons, Fruit Shoot, and London Essence Company. Licensed PepsiCo products, such as Pepsi and 7UP, also contributed significantly. 

Ireland was another standout market, with revenue up 7.8 percent despite a 1.8 percent volume decline. Key drivers included Ballygowan and Pepsi, with growth seen across both Ballygowan’s core water offerings and the Hint of Fruit range.

Managing Director Kevin Donnelly highlighted ongoing investments in Ireland, including the introduction of tethered caps, expanded capacity for Ballygowan Hint of Fruit, and sleek cans for carbonated drinks. 

Brazil remained a major growth market for Britvic, reflecting the global appeal of its product portfolio. 

The company also noted its commitment to future-proofing its operations.  

Chief Executive Officer Simon Litherland stated, “We have added more capacity, invested in our people, and significantly increased investment in marketing and innovation.” 

Meanwhile, Britvic’s acquisition by Danish brewer Carlsberg remains under regulatory review.  

The £3.3 billion (US$3.47B) deal, announced in July, would see Carlsberg acquire Britvic for 1,315 pence per share, including a special dividend.  

The UK Competition and Markets Authority launched a formal probe into the merger last month. Britvic expects the transaction to close in the first quarter of 2025, subject to regulatory approval. 

Looking ahead, the company expressed confidence in its market-leading brands and continued growth potential, emphasizing a strategic focus on innovation, capacity expansion, and consumer-driven offerings. 

Sign up HERE to receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.