# Britvic reports revenue decline of 5.1% on last year

- Link: https://www.directorstalkinterviews.com/britvic-reports-revenue-decline-of-5-1-on-last-year/412844927
- Published: 2020-07-22T08:01:54+01:00
- Author: Amilia Stone

**Britvic plc** (LONH:BVIC) has reported year-to-date revenue of £1,027.7m, a decline
of 5.1%* on last year, while Q3 revenue declined 16.3%* to £328.9m. As anticipated,
and previously communicated in our interim results, Covid-19 has impacted performance.
Significant declines in Out-of-Home consumption were partly offset by strong growth
in At-Home consumption, resulting in market value share gains across our business
units.

In March we estimated the impact of full Covid-19 restrictions on adjusted EBIT 
in 2020 at between £12m to £18m per month, net of mitigating actions. As we entered
the crucial summer trading period lockdown restrictions started to ease and the 
hospitality industry has gradually begun to re-open. It is however too early to 
judge the impact this will have on the business; we therefore maintain our previously
estimated monthly impact of full Covid-19 restrictions on adjusted EBIT.

> **Simon Litherland, Britvic Chief Executive, commented:**
> “As expected, Q3 demonstrates the full market impact of the Covid-19 lockdown.
> We have continued to focus on the clear priorities we set to navigate through 
> the pandemic, which have helped us to manage our business effectively and to deliver
> a third-quarter performance in line with our expectations. I am pleased with both
> the market share gains and the performance across the channels open to us, however
> in the near term there remains a high degree of uncertainty about the pace and
> level of full recovery. Looking further ahead, I am confident that the strong 
> momentum we built up going into the pandemic will return, and that our long-term
> strategy will continue to create value for all our stakeholders.”

_*All comparisons to last year are on a constant currency basis with__ __2019 restated
to reflect the previously announced move to monthly accounting._

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