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Brtivic cautious over pace of recovery in soft drinks as sales drop

Coronavirus (COVID-19) restrictions are still costing it a net £12mln to £18mln per month

Britvic PLC -

Britvic PLC (LON:BVIC), the Robinson’s and Tango soft drinks group, said revenues in the past three months had dropped by 16% compared to a year ago.

The soft drinks specialist said coronavirus (COVID-19) restrictions had led to a significant drop in out-of-home consumption, though in-home sales had picked up and Britvic had increased its market share.

Revenues in the third quarter to end-June, 2020, were £329mln, while year to date sales dropped by 5.1% to £1.03bn.

In March, Britivic estimated COVID-19 restrictions were costing it a net £12mln to £18mln per month.

Today it said it was not changing that estimate even though hospitality businesses had started to reopen again.

Simon Litherland, Britvic chief executive said in the Q3 trading statement: “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.”

Quick facts: Britvic PLC

Price: 802 GBX

LSE:BVIC
Market: LSE
Market Cap: £2.14 billion
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