Britvic sees "strong" at-home sales despite 16.3% revenue decline for Q3

A national soft drinks company has reported a 16.3 per cent decline in revenue for the third quarter of the year.

Britvic, which produces brands including Robinsons, J2O and Tango, reported revenues of £328.9m for the past quarter, with year to date revenues totalling £1,027.7m, a 5.1 per cent decline compared to last year.

The company said that there were “significant” declines in out-of-home consumption due to the country’s lockdown, but that this was partially offset by “strong” growth in at-home consumption.

Britvic has estimated that the impact of Covid-19 restrictions on adjusted EBIT in 2020 will be between £12m and £18m per month.

Simon Litherland, chief executive of Britvic, commented: “As expected, Q3 demonstrates the full market impact of the Covid-19 lockdown.

“We have continued to focus on the clear priorities we set to navigate through the pandemic, which have helped us to manage our business effectively and to deliver a third-quarter performance in line with our expectations.

“I am pleased with both the market share gains and the performance across the channels open to us, however in the near term there remains a high degree of uncertainty about the pace and level of full recovery.

“Looking further ahead, I am confident that the strong momentum we built up going into the pandemic will return, and that our long-term strategy will continue to create value for all our stakeholders.”

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