BRITVIC yesterday posted an 18.8 per cent rise in annual operating profit and announced plans to expand its Fruit Shoot brand in the United States.
The maker of Robinsons squash and Tango said operating profit in the year to 29 September was £135m up from £112.7m a year ago.
Revenue rose 4.4 per cent to £1.3bn, helped by a strong fourth quarter when a hot summer and the recovery of its Fruit Shoot brand after last year’s recall boosted trade.
Having rejected an improved proposal from Irn-Bru maker AG Barr for an all-share merger in July, Britvic has ramped up its expansion in the US, moved into Spain and will launch Fruit Shoot in India in mid-2014 to help grow its business.
The firm also announced yesterday that it has struck a new 15-year bottling agreement with PepsiCo Americas Beverages, which will see Fruit Shoot rolled out to 41 states during 2014, up from 32.
Britvic said trading in the new financial year had started ahead of its first quarter a year ago, and added that it was confident of delivering operating profit of between £148m and £156m in the new financial year.
City A.M. Reporter