Overcast

Overcast

max temp: 18°C

min temp: 10°C

ESTD 1874 Search

Chelmsford/ Norwich: Robinsons and J2O owner Britvic reports ‘robust’ trading for first quarter

12:56 29 January 2014

J2O maker Britvic has reported increased revenue for the first quarter of its new year.
Photo: Newscast

J2O maker Britvic has reported increased revenue for the first quarter of its new year. Photo: Newscast

newscast

Soft drinks group Britvic today reported a “robust” first quarter performance, with revenue growth across all its divisions.

shares

And the group, whose brands include Robinsons, J2O and Tango, said it remained on target for full-year earnings in line with previous guidance, with its cost-cutting programme which includes the closure of its factory in Chelmsford also on track.

Revenues in Great Britain were 1.5% ahead in the 12 weeks to December 22 driven by retail price increases, with volumes slightly down despite a tough comparative figure of 9.2% for the same period a year earlier.

In Ireland, revenues were 2.1% up on a comparable basis, although the reported sales figure was down due to fewer trading days as a result of a switch from monthly to weekly accounting to bring it into line with the GB division.

Overseas growth was even stronger, with revenues in France up 4.7% and those for its International division 5.6% ahead. Both figures were also underpinned by price rises, but with International sales also benefiting from volume growth.

Overall, revenues were 2.8% up at actual exchange rates, and 1.3% ahead when adjusted for currency changes, at £311.8m. Comparable group revenue excluding the impact of the accounting change in Ireland was 2.3% higher on a constant exchange rate basis.

Britvic chief executive Simon Litherland said: “We delivered a robust Q1 performance in each of our core markets despite a challenging consumer environment.

“We continued to make good progress implementing our new strategy and remain on-track to deliver our cost reduction initiatives as planned this year.

“Trading in the first few weeks of Q2 is ahead of last year, and we remain confident that EBIT this year will be within the range of £148m to £156m, which we communicated at our preliminary results in November.”

Britvic announced in May last year that it planned to close its factory in Chelmsford, which makes soft drinks in cans, glass and plastic bottles, putting more than 200 jobs at risk.

It also said it was closing its Pennine Spring water factory in Huddersfield with the loss of a further 40 jobs as part of a reorganisation aimed at cutting costs of £30m a year.

The group said in November that the restructuring process was due to be largely completed by the second quarter of 2014, with the Chelmsford and Huddersfield sites due to close by this May.

Work from the two plants will transfer to other sites in the UK, Ireland and France, with Britvic’s other UK locations including major operations in London, Norwich and Leeds.

Britvic has an association with Chelmsford stretching back almost 150 years. The present factory was built in 1954 and until 2012 the group also had its head office the city. It is now based at Hemel Hempstead in Hertfordshire.

shares

0 comments

The Secretary of State for Energy and Climate Change, Rt Hon Amber Rudd MP is at Ickworth Park in Horringer to officially open the new biomass boiler. Amber Rudd is pictured with L-R: Jonathan Rhodes (programme manager - Ickworth), Dee Gathorne-Hardy (senior ranger) and Patrick Begg (programme director - Ickworth).

The Secretary of State for Energy and Climate Change will visit Suffolk today to officially launch a major new environmentally-friendly installation at Ickworth Estate.

Post Office

The branch on High Street will be shut for two weeks and is set for longer opening hours after works.

John Cox of NatWest.

The East of England witnessed the slowest rate of growth of any region or nation in Great Britain during the first three months of 2015, according to a study by the Royal Bank of Scotland group.

Mark and Spencer has posted a drop in quarterly clothing sales, after a colder May impacted demand for its spring and summer collections.

High street giant Marks & Spencer today posted a drop in quarterly clothing sales, after a colder May impacted demand for its spring and summer collections.

015 Flippie 1

A social media start-up which aims to rival the likes of Facebook and LinkedIn says it has won a significant investment ahead of its autumn launch.

Mark Rigby, chief executive of business rates specialist CVS.

The Valuation Office Agency (VOA) is facing a backlog of more than 280,000 appeals over business rates.

British Chambers of Commerce director general John Longworth.

Fresh signs are emerging of “two tier” growth in the UK economy, with firms within the services sector peforming markedly more strongly than those in manufacturing, according to a new study.

From left, John Nicholson,  Andy Bloomfield  and Chris Pont of IJYI.

Ipswich-based software development firm IJYI has taken on its second apprentice in the space of six months.

Students at UCS in Interior Architecture and Design, have been taking part in a design competition to design an entrance canopy for the St Edmunds House apartments in Rope Walk.
Ross Carroll, director of Crown House Homes, left, with course tutor Dr Liana Psarologaki, and Annali Hubbard of Palmer & Partners estate agents, and some of the course students, Elliott Jones, Bryony Briggs, Dan Hutton, Amy Schuller and Michelle Villar

Apartment developers hold a design competition with university students

A member of staff at N2S bagging up scrap computer components ready for further destruction and recycling.

A Suffolk-based computer equipment lifecycle management company is celebrating after achieving accreditation allowing it to work at the highest level of Government.

Most read

Most commented

Topic pages