Poor weather – including the coolest June in a decade – took its toll on soft drink sales in the past quarter.
Britvic said low temperatures and rain caused overall UK soft drinks volumes to fall 8.2% over June, making Q3 the first quarter of volume decline in the past two years. It admitted the conditions had dented its promotional activity for the Robinsons brand during Wimbledon.
In its interim results, the company reported a 2.5% drop in underlying volumes in the UK, adjusting for the effect of some products switching to a double-concentrate format.
But this was offset by average retail prices rising 3.3%, as total UK revenues edged up 0.7% to £217.1m.
Group revenues were up 12.2% to £324.9m, driven by the acquisition of Fruite Enterprises by Britivic France. But excluding France, group revenues dipped by 1.8%, primarily due to a poor performance in Ireland.
“The actions we have taken to proactively manage average retail price and margins against such challenging market conditions underpin the board’s current confidence in meeting its expectations for the full year,” said chief executive Paul Moody.
“However, we continue to be cautious about the challenging trading conditions.”
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