The decision by UK drinks maker Britvic (BVIC) to tackle the US market looks to have been worth the thirsty work given the rapid increase in sales and volumes in its international division.
IC TIP:
Buy
at
618p
Turnover rose by a fifth in the division, which includes the US, compared with a near-14 per cent decline in the same period in the previous year. Volumes also rose 14 per cent, which management said was largely driven by the US. The international division is the smallest by sales, but if similar growth is repeated it could soon become more meaningful.
Performance in the UK was also encouraging and its deal with sandwich chain Subway helped it offset the tough supermarket pricing conditions.