9 September 2008 - Britvic is holding a seminar starting this evening in Dublin for investors and analysts at which the following updates on trading and the Britvic Ireland acquisition will be made.
Group Trading
Despite the continued challenging economic conditions, Britvic's trading performance in GB and International in the second half has been better than expected. As a result GB and International's operating profit will be ahead of market expectations for the current financial year.
Conditions have been more difficult in Ireland and the consequent impact on consumer behaviour and the soft drinks market are adversely affecting Britvic Ireland's performance. Therefore Britvic Ireland's operating profit is now expected to be below consensus expectations for the current financial year. However as a result of the resilient performance of GB and International, the Britvic board remains confident that group earnings will be delivered in line with market expectations.
Britvic Ireland acquisition
The primary focus of the seminar will be Britvic Ireland and the Irish soft drinks market. The seminar will include details supporting an upgrade to the Britvic Ireland acquisition synergies. The upgrade of more than €6m by the financial year ending in September 2011 is in addition to the €14m synergies outlined on 14th May 2007.
Also featured tomorrow will be an update on the success of Britvic's 2008 innovation programme.
The next trading information for Britvic will be at the time of the 52-week trading update for the period to 28th September 2008, due to be announced on 16 October.