Britvic Irish revenues down 2.8% in Q1

Drinks company Britvic has posted a 2.8% fall in its Irish revenues for the first quarter.

The company, which owns the Ballygowan and MiWadi brands, said the decline mainly due to the third party products that it distributes.

The company said its own brands outperformed a weak market with revenues up by 7.6% despite a volume decrease of 2.4% in a declining soft drinks market.

Britvic reported a 4.8% rise in overall revenue to £303.2m (€360.6m) with strong performances in both Britain and France.

“Our business units have delivered a much improved performance in the first quarter of the year resulting in group revenue growth of 4.8%," said CEO Paul Moody.

"The second quarter has started more slowly reflecting the continuing challenging economic and trading environment.

"However, overall we are confident that the business is well positioned to meet these challenges.”

The company also announced an agreement with PepsiCo to accelerate the distribution of its Fruit Shoot brand to a total of 30 US states by summer 2013.

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