Britvic

: BVIC

£2049.3m market cap

768p last close

Investment summary

FY20 started well, with value share gains in GB, Ireland and Brazil. As expected, lockdown has affected out-of-home and on-the-go consumption in particular. Conversely, sales of at-home consumption packs have increased significantly, thus leading to an adverse mix effect. GB and Ireland have been the most affected markets for Britvic, as they have a greater exposure to the out-of-home channel. The company is maintaining its guidance of a likely monthly impact from the COVID-19 pandemic of £12–18m adjusted EBIT, although its scenarios seem very conservative.

Sector
Consumer
Share price graph
Price performance
%
1m
3m
12m
Actual 3.1 15.4 (14.7)
Relative* 2.8 0.3 1.9
52-week high/low 1068.0p/601.0p
*% relative to local index
Key management
Simon Litherland CEO
Mathew Dunn CFO

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