The UK-based Britvic PLC (GB:BVIC) reported decent FY23 preliminary numbers. Also, the company increased its full-year dividend by 6.2% to 30.8p per share, demonstrating the board’s assurance of the company’s strong financial position. The company has a current dividend yield of 3.51%.
Britvic’s overall product demand remained strong during the year despite adverse weather conditions resulting in a slight decline in volumes in Q4.
Britvic is a British manufacturer of soft drinks that sells 39 brands under its portfolio in more than 100 countries worldwide. The company’s brands include names like Tango, Gatorade, Mountain Dew, 7UP, and many more.
FY23 Results Snapshot
The group’s revenue increased by 6.6% to £1.74 billion for the year. The adjusted EBIT grew by 5.9%, reaching £218.4 million compared to last year. The profit after tax, however, fell by 11.6% to £124 million, largely hit by the pension-related adjusting cost. The company highlighted exceptional performances from its brands, Tango and Pepsi MAX, and its successful navigation of the inflationary environment during the year.
The company enhanced its brand portfolio with two strategic acquisitions this year. Britvic acquired Extra Power in Brazil and Jimmy’s Iced Coffee in the UK to catch hold of fast-growing categories.
For FY24, the company is gearing up for an “exciting program of marketing and innovation launches” and remains confident about delivering value for its shareholders.
Is Britvic a Good Share to Buy?
According to TipRanks, BVIC stock has received a Moderate Buy rating from a total of six analysts. It includes three Buy and three Hold recommendations. The Britvic share price forecast is 964.17p, which is 14.5% above the current level.
