Drinks company Britvic has described their financial results as "outstanding" after reporting a profit after tax of £125.8m for the 12 months to the end of September.

The profit level was a modest 1.8% increase on last year.

However, the group's revenues rose 9.5% to almost £1.9bn, while its adjusted earnings per share jumped by 13.9% to 69.5 pence.

The company said its performance was helped by strong demand for its portfolio of soft drinks that aided both domestic growth and double digit growth in Brazil.

The company said in Brazil both their established and acquired brands were "in high double-digit revenue growth" of 35.3%.

In Ireland, Britvic owns brands including Ballygowan, MiWadi, Club, Cidona and TK.

Britvic Ireland is one of the oldest soft drinks companies in the world and is the only large-scale soft drinks manufacturer in the Republic employing 360 people across the island.  

Brands such as Robinsons, Fruit Shoot and London Essence Company as well as PepsiCo brands like Pepsi and 7UP are produced and marketed under licence.

The company said its performance in Ireland remained strong during the year, with revenue up 7.8%, despite a modest volume decline of 1.8% in the year.

Pepsi and Ballygowan were the main drivers, with both the core water offering and Hint of Fruit delivering strong growth.

The company said the introduction of the Deposit Return Scheme (DRS) for PET bottles and cans in February did have an impact.

Initially, the company said it saw a volume decline in the early months after the scheme's launch but it said it saw a return to volume growth, up 5.9% on last year, in the fourth quarter.

Britvic also said it had completed a supply chain programme to release additional production capacity in the Irish factories by introducing new work rosters while also implementing cost-efficiency savings within the manufacturing and warehouse operations at the end of 2023 which enabled it to reduce the cost and complexity created by introducing a DRS.

Kevin Donnelly, Managing Director of Britvic Ireland, said the company delivered another year of impressive revenue growth in Ireland.

"Encouragingly, we saw a return to volume growth in the fourth quarter, with volumes up 5.9% on last year, and market share gains," he said.

"We continue to invest in our manufacturing facilities in Ireland, introducing tethered caps in July, expanding capacity for Ballygowan Hint of Fruit, and introducing sleek cans across our carbonated drinks portfolio," he added.

Britvic said its performance in the UK has been strong, with robust volume growth and favourable price/mix. It noted that volume growth was driven by the retail channel, with a weaker hospitality channel.

"From a revenue perspective, both channels delivered revenue growth, as did its owned and PepsiCo brands.

"Encouragingly, we have delivered volume growth across all quarters, with quarter four volume up 2%, despite the poor summer weather," the company added.

Simon Litherland, Britvic's chief executive, said the company delivered another excellent financial performance this year, with strong growth across its markets and portfolio of market-leading brands.

"We have also continued to ensure the business is fit for the future, adding more capacity, investing in our people and significantly increasing investment in marketing and innovation," the CEO said.

"I am confident that the prospects for our brands and people are extremely positive, and I look forward to them going from strength to strength," he added.

Carlsberg had previously agreed a deal to buy Britvic for £3.3bn.

Litherland confirmed that subject to approval from the regulatory authorities, he expects the acquisition by Carlsberg will completed in the first quarter of 2025.

The company said there would be a full year dividend 34.5p, including a 25 pence per share dividend payable on completion of the acquisition of Britvic by Carlsberg.

Top Photo: Kevin Donnelly, MD Britvic Ireland pictured at the Ballygowan bottling facility in Newcastle West, Limerick - Pic by David Clynch