Drinksmaker Britvic said its Irish business returned to growth in the year ended September 27th, but said poor weather hit its performance in the final quarter of the year.
The company, which makes MiWadi, Ballygowan, Fruit Shoot and Club, said its main brands all gained share, with the business in a good position to deliver growth in the future.
Volume rose by 2.6 per cent, with average realised price down 1 per cent in a competitive soft drinks market. That led to a revenue increase of 1.3 per cent.
“The market remained subdued and deflationary; however, we gained market share, testament to the strength of our brands in Ireland,” chief executive Simon Litherland said.
The company has agreed a 10-year extension for the Irish distribution rights for 7UP, Pepsi and Mountain Dew.
On a group basis, Britvic said it saw a slow start to its full-year 2016 due to challenging market conditions, but said it would grow its profit in the year.
The company, which makes Robinsons squash along with PepsiCo brands Pepsi Max and 7UP, said it expected full-year 2016 earnings before interest, taxes, and amortisation (Ebita) to be in the range of £180 million to £190 million (€254 million to €268 million).
Britvic reported a 7.1 per cent rise in constant currency Ebita to £171.6 million for the full year ended September 27th, 2015. Revenue on a constant currency basis fell marginally to £1.30 billion.
Additional reporting: Reuters
