Britvic shareholders enjoy dividend boost, despite revenue dip
Robinsons and Tango owner Britvic reported a slight dip in revenue this morning, though the consumer goods group noted positive growth in the UK.
Revenue slipped 0.5 per cent to £1.4bn in its preliminary full year results today. While profit after tax jumped more than nine per cent to £103.2m in the 12 months to September 30.
Shares lifted nearly three per cent to 904p per share by mid-afternoon.
“This year we have recovered strongly from the effects of the pandemic, with underlying revenue, margin, and profit all in growth,” CEO Simon Litherland said, which he owed to the group’s cash management over the turbulent trading period.
Britvic has also been able to increase its dividend by 12 per cent.
“While there are multiple operational headwinds leading to increased inflation, we are confident we will mitigate them through a combination of our agile and resilient supply chain, revenue management and cost saving actions,” Litherland added.
“In 2022 we anticipate making further progress with revenue, profit and margin ahead of 2021.”