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Britvic shares up after drinks sales fizz higher

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Shares in soft drinks maker Britvic have risen 6% after it reported higher sales, despite lower demand in Northern Ireland and the Irish Republic.

The firm - which owns the Robinsons, Tango, Drench and Fruit Shoot brands - said full-year revenue totalled £1.29bn, up 14.6% on the previous year.

However, sales in Ireland fell by 9.6% over the 12 months.

Britvic noted "very challenging macro-economic conditions", a reference to the impact of austerity efforts.

"Our Great Britain, French and international business units have delivered positive volume, price and revenue growth in the full year, despite the continued challenging economic backdrop and poor weather over the summer period," said chief executive, Paul Moody.

Bubbles

Britvic also distributes PepsiCo products, including Pepsi Max and 7UP in the UK and Ireland.

They helped its carbonated drinks division make up for a drop in demand for its still beverages.

Fizzy drink sales rose 7.3% over the year as a whole in Great Britain, while stills fell by 3.2%.

"Carbonates tend to be cheaper than juices and smoothies and the other high end stills," said Ian Shackleton, a beverage analyst at Nomura.

"And the poor summer is likely to have had more of an impact on those still drinks, while also reducing demand for waters."

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