Britvic.........

Britvic PLC is one the two leading soft drinks companies in the UK. It was floated after InterContinental Hotels, Whitbread and Pernod Ricard SA sold 181m share. Britvic is one of the two leading soft drinks businesses in Great Britain by both volume and retail sales value, with many of its brands being number one or two in their respective sub-categories. The Company is the number one supplier to the GB licensed on-trade and number two in the GB take-home. Its brand include Pepsi, Robinsons, Tango, Britvic, J2O and Fruit Shoot.




DAILY INTRADAY CHART.......

Interim Results

Financial highlights:
· Revenue growth of 4.7% to £670.7m, with volume growth of 3.9% and ARP growth of 0.8%
o GB revenue up 5.0%, outperforming the GB take-home soft drinks market
o France revenue up 7%, with both volume and ARP growth
o Ireland revenue down 5.2% as the consumer environment remained difficult
· Group EBITA of £60.5m, up 12.9% on last year, driven by revenue growth and tight cost control
· Half-year adjusted EPS of 14.5p, up 16.9% on last year
· Interim dividend of 6.1p, up 13.0% on last year, reflecting confidence in future prospects

Strategic highlights:
· Focus has remained on building sustainable profit and margin improvement
· Strong progress on strategic cost initiatives: on-track to deliver £30m annual cost saving by 2016
· New operating model established with significant change programme nearing completion
· Nationwide distribution of Fruit Shoot in the USA secured through additional PAB territories and new independent bottler agreements
· Fruit Shoot India launch on track, with in-market production to commence imminently

Gone long here. looks like a SP recovery is on the way.

Broker Forecasts for BVIC all well above present SP which was brought down with the general market over the last few weeks.......

BRITVIC BROKER VIEWS

Date Broker Recommendation Price Old target price New target price Notes
25 Jul Numis Hold 692.25 765.00 765.00 Reiterates
24 Jul Investec Hold 692.25 716.00 725.00 Retains
21 Jul Nomura Buy 692.25 - - Reiterates
18 Jul JP Morgan Cazenove Neutral 692.25 730.00 730.00 Retains
11 Jul Goldman Sachs Neutral 692.25 764.00 778.00 Reiterates

BVIC BRITVIC after a good trading update look to have plenty of momentum behind them.
I fully expect broker updates perhaps upgrades over the next few days.

Britvic FY to be slightly ahead of guidance

StockMarketWire.com

Soft drinks group Britvic's full year revenues increased by 2.4%, with both volume and price growth.

And it says the strategic cost initiatives were successfully implemented with a slightly higher in-year benefit than anticipated.

As a result the group now expects that EBIT for the year to 28 September will be marginally ahead of the top end of its previous guidance range of £148m to £156m and well ahead of last year.

Chief executive Simon Litherland said: "We have delivered a strong performance despite the poorer summer weather and the continued challenging trading environment. We now expect operating profit marginally ahead of the top end of the guidance range we outlined at the start of the year.

"Full year revenue grew 2.4% and the accelerated delivery of our strategic cost initiatives pulled the in-year savings ahead of our original plan. I am especially pleased that we have delivered a strong set of results, with profits well ahead of last year, at the same time as undertaking a significant internal change programme. We are now set up to take advantage of the growth opportunities ahead of us.

"We anticipate that the prevailing challenging market conditions will continue for some time. Nevertheless, we look forward with confidence to further earnings growth in 2015, as we realise the full year benefit of the cost initiatives and execute our extensive innovation and marketing plans for the year. We will share more details of this in our preliminary results in November."

Brokers Views.....

Britvic PLC

FORECASTS

2014 2015
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
SG Securities
21-10-14 BUY 41.23 20.30 48.21 23.75
Shore Capital
17-10-14 BUY 129.50 40.80 19.60 147.90 47.10 20.80
Westhouse Securities
25-09-14 BUY
Mirabaud Securities
15-09-14 ADD 130.00 41.26 20.08 150.00 47.23 23.08

I own a few of these. It's intriguing why having closed the gap on the chart to 600p from last November, has bounced to find resistance @ 660p on the back of what looked like a very good trading statement yesterday.



So why the drop? Hopefully it is profit taking by traders who bought @ 600p. Stock is still in a solid uptrend from mid 2012.

One theory (and it's probably rubbish or wishful thinking), just like Chartists who are (I like skinnys interpretation from a post awhile back) Anal regarding gaps on charts, fundamentalists are equally anal in interpretating statements, in particular words such as 'Challenging' :-

"We anticipate that the prevailing challenging market conditions will continue for some time."

Find out on Monday. on watch list hopefully for a punt long on the spreads :0)

Latest broker views


Date

Broker

New target

Recomm.


24 Oct Numis 763.00 Add
24 Oct Barclays... N/A Equal weight
2 Oct Numis 765.00 Hold
26 Aug Barclays... 725.00 Equal weight
25 Jul Numis 765.00 Hold
24 Jul Investec 725.00 Hold
21 Jul Nomura N/A Buy
18 Jul JP Morgan... 730.00 Neutral
11 Jul Goldman Sachs 778.00 Neutral
27 Jun Nomura 850.00 Buy

Broker Recommendations for Britvic

Good recovery so far today fingers crossed.

Back on track.

Excellant bounce today on very little volume.

missed out on this one big time .... probably because it went in the direction it was meant to!

4 Nov Citigroup 850.00 Buy

Yep a winner like 90% of mine.

don't be a smartarse :-)

LOL.

Preliminary Results - 26 November 2014

Financial headlines:
· Revenue growth of 2.4% to £1,344.4m, with volume growth of 1.5% and ARP growth of 1.0%
· Group EBIT of £158.1m, up 17.6% on last year and ahead of previous guidance, driven by disciplined revenue growth and accelerated delivery of the strategic cost initiatives
· 150bps expansion in EBITA margin
· Reduction in adjusted net debt to £380.9m, with EBITDA ratio falling from 2.2x to 1.9x
· Underlying free cash flow of £88.9m, ahead of previous guidance
· Adjusted EPS of 41.8p, up 18.8% on last year
· Full year dividend of 20.9p, up 13.6% on last year, reflecting earnings growth and robust cash generation

Strategic highlights:
· Strategic cost initiatives generated a higher in-year benefit than originally anticipated, delivering a cumulative £25m gross benefit in 2015
· Increased investment during the year in the International business unit, strategic marketing and innovation
· Further investment in capacity in 2015 to support future growth, including £25m capital spend in a new high speed PET line and warehousing
· Fruit Shoot USA multipack launch anticipated in H2 2015
· Anticipate 2015 EBIT in the range of £164m to £173m, underpinned by cost saving initiatives

Q1 Interim Management Statement to 21 Dec 2014

Q1 headlines:
· Group revenue of £304.3m down 0.4% on last year, driven by a marginal volume decline of 0.3% whilst ARP remained flat
· GB revenue declined 1.4%, in a notably more competitive promotional environment
· Ireland revenue increased 2.8%, driven by both volume and ARP growth
· France revenue increased 2.3%, with an ARP decline of 0.4% offset by a volume increase of 2.6%
· International revenue declined 3.6%, mainly due to lower volumes in the travel sector combined with lower orders for US concentrate compound. A change in our manufacturing process has enabled significantly shortened order lead times

Done Harry.....if you want anything else adding, please let me know, cheers.

Interim tomorrow, going well today (so far) will results be good enough to propel sp to 780p and breakout above it. Place your bets :0)