Britvic Fiscal Year Pretax Profit +28.1%; Trading in FY14 Ahead of Last Year

LONDON--Drinks company Britvic PLC (BVIC.LN) Tuesday reported a 28.1% increase in full-year pretax profit at actual exchange rates and said trading so far in the new financial year has been slightly ahead of the first quarter last year.

MAIN FACTS:

-Also agrees deal with PepsiCo Americas Beverages for a 15-year bottling agreement for further manufacturing and distribution in the U.S.A; Fruit Shoot will be distributed in 41 states in 2014

-Revenue in year to Sept. 29 GBP1.32 billion versus GBP1.26 billion a year earlier

-Pretax profit GBP108.1 million versus GBP84.4 million last year (up 26.7% at constant exchange rate)

-FY13 earnings before interest and tax was GBP112.7 million; Britvic sees FY14 EBIT from GBP148 million to GBP156 million

-Group EBITA GBP137.9 million versus GBP115.6 million

-Adjusted EPS 35.2 pence versus 27.2 pence

-Underlying free cash flow GBP103.5 million versus GBP62.1 million

-Adjusted net debt GBP402.3 million versus GBP446.7 million

-On-track to deliver GBP30 million per annum of cost savings from 2016

-Final dividend of 13 pence per share.

-Shares closed Monday at 607 pence valuing the company at GBP1.49 billion.

-Write to Ed Ballard at [e-mail]

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