Britvic reports post-lockdown bounceback as profits surge

Britvic reports post-lockdown bounceback as profits surge

Britvic Ireland has posted a surge in annual profits as pandemic restrictions eased.

Despite cost pressures, the company is forecasting further progress over the year ahead.

The company, which owns Club, TK and Ballygowan, said the gains made during lockdowns in products consumed at home continued, while its products consumed away from home also enjoyed a strong second half performance.

“We delivered a strong performance across key metrics, demonstrating the strength of our brand portfolio of family favourites – thanks to significant investment in those brands throughout the year,” Kevin Donnelly, Managing Director of Britvic Ireland, said.

“This includes major rebrands for Ballygowan and Club, and relaunching MiWadi with added vitamins which has proven very popular with consumers,” he added.

During the year, the company invested €2m in its Ballygowan facility in Newcastle West to facilitate the introduction of lightweight 100% RPET (recycled and recyclable) bottles.

It also secured Gold Member Status in Bord Bia’s Origin Green Sustainability Programme.

The soft drinks maker today raised its dividend by 12% and reported a higher annual profit, as easing Covid-19 curbs drove more people outdoors and boosted sales.

The company, which also sells Tango, J2O, Fruit Shoot and Teisseire, said it would pay shareholders a dividend of 24.2 pence per share, compared with 21.6 pence a year earlier.