Proactive Investors - Britvic PLC (LON:BVIC) has announced a jump in revenue for the full year aided by an increase in the price of its drinks.
Revenue increased by 6.6% to £1.75 billion in the year ended 30 September 2023, the soft drinks maker announced on Wednesday, prompting 5.9% growth in adjusted pre-tax earnings to £218.4 million.
Adjusted margins fell by 0.1 percentage points to 12.5%, Britvic said, with the company also reporting a 2.2% decline in volume sales.
However, Britvic labelled the reductions as “modest” and hailed continuing demand for its range of soft drinks.
“Through a combination of revenue growth management actions and cost discipline we have been able to mitigate the substantial cost inflation pressures,” chief executive Simon Litherland commented.
“We have demonstrated that our portfolio of trusted brands has been able to take and hold significant price, with very limited volume impact.”
Britvic added it is confident of continued growth in 2024, reassuring that demand for its products has historically remained resilient through periods of economic downturn.
Shares climbed 0.8% to 846p.