DUBLIN: Britvic Ireland said its revenues for the the year to October 2 rose by 9.4% to £131.7m, while it reported volume growth of 3.6%.
The business, which inclues the MiWadi and Ballygowan Water brands, has now recorded six quarters of growth in a row.
The company said that 60% of its Irish sales are now in the low and no sugar segment. It said it has successfully established and leveraged its position as the number one player in “no added sugar” and now has over 30% share of the market, outperforming the market.
The company also noted that Ballygowan has continued to significantly outperform the market and has contributed more growth to the Irish soft drinks market than any other brand.
To further increase Britvic’s reach in the licensed channel, the company said it will buy East Coast Suppliers Limited and merge it with its existing licensed wholesale business Counterpoint to form the second largest licensed wholesaler in the market. The deal is subject to approval from the Competition and Consumer Protection Commission.
East Coast Suppliers Limited is a licensed wholesaler based in Dundalk with a strong presence along the east coast – especially the important Dublin market – and services over 1,000 pubs, bars and restaurants.
Meanwhile, the Britvic Group said its full-year adjusted core earnings rose 8.4%, mainly as the company expanded its business in Brazil and on better sales in the UK.
The soft drinks company also said it was confident that its 2017 results would be in line with market expectations, despite facing possible higher taxes from new regulations in the UK and Ireland and uncertainty caused by the EU referendum results.
