Britvic plc Britvic plc Interim Results 15-May-2024 / 07:00 GMT/BST =---------------------------------------------------------------------------------------------------------------------- Britvic plc Interim Results - 15 May 2024 For the six months ended 31 March 2024 'An excellent first half of the year, confident of continued sustainable growth' Group Financial Headlines: -- Revenue increased 11.2%1 to GBP880.3m -- Adjusted EBIT increased 17.7%1 to GBP100.4m increased 17.
Britvic is the largest supplier of branded still soft drinks in Great Britain and the number two supplier of branded carbonated soft drinks in Great Britain. Britvic is an industry leader in the island of Ireland with brands such as MiWadi and Ballygowan, in France with brands such as Teisseire, Pressade and Moulin de Valdonne and in its growth market, Brazil, with Maguary, Bela Ischia and Dafruta. Britvic is growing its reach into other territories through franchising, export and licensing.
Last year, we installed another can line to meet the expanding demand for family favourite brands such as Tango and Pepsi MAX, and to enable us to launch a can format for Lipton Ice Tea. Pepsi MAX has continued to lead the cola category growth through both the core MAX proposition and our range of appealing flavours. This spring featured the unmissable global brand refresh of Pepsi, supported by a significant increase in investment.
Plenish has had a truly outstanding half, with revenue up 168.5%, demonstrating Britvic's acceleration of an already powerful consumer brand. Our product innovation team successfully completed at the start of the year the extremely technically challenging creation of a Barista range of Plenish organic plant-based milks, developing the only range in the UK free from oils and gums, while still offering creaminess, foam, and flavour.
At the end of 2023, we completed a supply chain programme to release additional production capacity in the Irish factories, by introducing new work rosters, while simultaneously implementing cost-efficiency savings within the manufacturing and warehouse operations. This has enabled us to successfully reduce the cost and complexity created by introducing DRS.
We have successfully executed pricing plans in each of our markets in the first half, through a combination of base price, pack mix and promotional optimisation. % change 6 months ended 6 months ended GB actual 31 March 2024 31 March 2023 exchange rate Volume 841.9 820.7 2.6% ARP per litre 70.3p 66.3p 6.0% Revenue 592.2 544.2 8.8% Brand contribution 248.0 218.6 13.4% Brand contribution margin 41.9% 40.2% 170bps See glossary on page 14 for definitions of performance measures.
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