StockMarketWire.com - Britvic has reported a 22.8% rise in Q3 revenue to £384.8 million fuelled by the easing of lockdown restrictions in the UK.

Year to date revenue increased by 3.1% to £1.0 billion as performance was supported by trade restocking ahead of reopening, as well as continued strong consumer demand for Britvic brands.

The reopening of indoor hospitality in the UK in May enabled most outlets to open, albeit with reduced capacity due to continued social distancing measures.

Elsewhere, revenue grew in the At-Home channel in Brazil, France, and Ireland. Double-digit revenue growth continued in Brazil, while the recovery of the Out-of-Home channel in Ireland lags the UK, reflecting the different paths out of lockdown.

However, the company added that it has not yet returned to pre-pandemic levels and that the critical summer trading period should help progress through the rest of this year.

It added that this should see the company deliver profit within the range of current market expectations.

Simon Litherland, Britvic's chief executive, said: 'Performance in Q3 was encouraging, as we benefited from the easing of lockdown restrictions, while also continuing to perform well in the At-Home channel. Some degree of uncertainty remains for now, however, as the full course of the pandemic is still unknown. That said, the momentum we had built up going into the pandemic has stood us in good stead throughout, and I am confident that we will continue to navigate our way through it successfully.

'We remain committed to rebuilding investment behind our portfolio of market-leading brands to ensure we continue to emerge strongly and are well-positioned for the recovery as it evolves. In addition, recent initiatives, such as Rockstar, Plenish and the Aqua Libra Company, give us access to new opportunities and further enhance our medium-term growth prospects. We remain confident that our strategy is fit for the future and will continue to drive growth and create sustainable value for all our stakeholders.'


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