Robinsons and Tango maker Britvic hailed the soft drink company’s cost-management strategy as its profits rose more quickly than sales.
Revenue rose by 10.4% to £794.0 million, while profit growth was faster at 20.3%, to £80.7 million.
That comes despite a wider surge in the cost of many of Britvic’s key ingredients, with sugar prices soaring by 40% while the prices of many types of fruit have risen significantly as well.
Boss Simon Litherland said it took a range of steps to keep costs down.
“We’re very focused on making sure we provide great tasting soft drinks,” he said. “Like many businesses we have experienced serious cost increases which we have tried to mitigate through better procurement.
“We’ve made packaging changes too. For example we lightweighted the Ballygowan bottle which improves cost. And Rockstar and London Essence we brought in house which reduces cost.”
Britvic highlighted the performance of Tango and Pepsi Max as helping to boost growth, with Tango being the UK’s fastest-growing fizzy fruit drink.
“Looking ahead, we will be activating a series of exciting marketing and innovation campaigns this summer,” Litherland said, pointing to a Pepsi Max partnership for the upcoming UEFA Champions League final.
“We have a fantastic portfolio, a well-invested business, and a very talented team, so I am confident that we will continue to make further strong progress this year and beyond, creating value for all our stakeholders.”
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