Britvic shares buoyant despite terror woes

The City was sweet on J20 and Tango drinks maker Britvic on Wednesday, despite terror attacks weighing on sales in France and sugar-tax concerns.

The soft drinks giant was one of the biggest risers on the FTSE 250, with shares up 27p, or nearly 5%, to 575p.

Growth came even though boss Simon Litherland flagged up difficulties overseas: “The tragic terror events of the last year, combined with social and economic pressures, have had an impact on consumer confidence and behaviour in France.”

He added that the weaker pound had increased some import costs.

The firm, behind London Essence Company mixers, also has to cope with the expected taxation on high sugar content products. However, it said that 68% of the portfolio is now below the threshold from the proposed tax.

Investors welcomed strong figures for the 53 weeks to October 2.

Sales surged 10.1% to £1.4 billion, helped by demand in the UK for Pepsi and 7 Up.

Pre-tax profits rose to £151.9 million from £137.6 million.

Litherland said the company is on track to deliver full-year profits in line with expectations.