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Britvic revenue falls in Q1 as lockdown restrictions hurt out-of-home division
StockMarketWire.com
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Soft-drinks maker Britvic reported a decline in first quarter revenue and said performance would continued to be affected by the pandemic-led sales weakness in its out-of-home division.
In the first quarter, total revenue fell 9.8% to £328.1 million and was down 5.8%, when the the disposal of the French private label juice business was excluded
In GB revenue declined 4.1%, with strong At-Home growth of 11.9% offset by a decline of 32.5% in out-of-home, resulting in adverse pack and channel mix.
Brazil revenue continued to grow strongly at 25.6%, whereas comparable rest of world revenue fell 19.3%.
'While there remains considerable uncertainty over the depth and duration of future restrictions, we anticipate they will remain in place at least through our second quarter,' the company said.
'Consequently, we would expect performance to continue to be significantly affected by similar adverse channel and pack mix to that which we saw in the second half of FY20, and gradually improve following the lifting of restrictions,' it added.
Story provided by StockMarketWire.com
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