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Britvic Profit Up

Britvic Profit Up - British soft drinks maker Britvic (BVIC.L) met forecasts with a 22 percent increase in year profit that reflected revenue growth and tight management of costs, and predicted more growth in 2011.

"The group's extensive brand and innovation plans, combined with satisfactory trading in the first few weeks of the new financial year, mean we are in good shape to deliver another robust set of results for the year ahead," Chief Executive Paul Moody said on Thursday.

But he cautioned that he expected the consumer and cost environment to remain challenging and Britvic took a non-cash impairment charge of 104.2 million pounds ($162.6 million) on the carrying value of Britvic Ireland's intangible and property assets.

Britvic, whose brands include Robinsons, Tango and Fruit Shoot, made a pretax profit of 109.1 million pounds for the 53 weeks to Oct. 3, in line with analysts' consensus forecast of 109.2 million, according to Thomson Reuters I/B/E/S, and up from 86.1 million pounds made in 2008/09.

Britvic, which also owns the rights to sell Pepsi (PEP.N) in Britain and Ireland, said revenue increased 14.6 percent to 1.14 billion pounds.

The firm, Britain's second biggest soft drinks maker behind Coca-Cola Enterprises (CCE.N), also raised its full-year dividend by 11.3 percent to 16.7 pence.

Britvic Profit Up
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