Britvic (LON:BVIC) shares rose over 6 percent on Wednesday morning, despite profit after tax for the first half of the year sinking by over 13 percent.
Profit fell to £33.3 million during the six month period, after restructuring costs of £21.6 million had a negative impact on results.
The company recorded a sales increase of 3.6 percent, up on the same period a year ago, with ARP up 0.5 percent to 57.4 pence.
Revenue increased by 4.5 percent to £733.2 million, with adjusted earnings (EBIT) up 9.4 percent to £80.5 million. Adjusted earnings per shares rose 12.2 percent to 21.2 pence.
Simon Litherland, Chief Executive Officer, said:
“We have delivered a strong first half performance with solid revenue, margin and earnings growth. We have also made good progress in innovating to meet consumer needs, growing our international presence and transforming our supply chain.
“While it is too soon to guide on the ongoing consumer impact of the soft drinks levy, early indications of the competitor and customer response are broadly as we anticipated. We have exciting commercial plans in place for the second half and I remain confident of continuing to make progress this year”.
Shares in Britvic are currently trading up 6.13 percent at 805.00 (0851GMT).
