CORRECT: =Britvic Confident For Year As Ireland Returns To Growth

23rd Jul 2010 08:12

("=Britvic Confident For Full Year As Ireland Returns To Growth" at 0613 GMT misstated the period being reported in the first paragraph. The error was repeated in an update at 0650 GMT and a headline at 0701 GMT. The correct version follows.) By Michael Carolan Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. soft drinks group Britvic PLC (BVIC.LN) said Friday it is confident of meeting full-year profit expectations after growing third-quarter sales in all its regions, including the troubled Irish business. Britvic, the second-biggest supplier of carbonated drinks by sales in the U.K. behind Coca-Cola Co.(KO), said sales in the 12 weeks to July 3 grew 16.2% to GBP289.5 million. Stripping out acquisitions, the underlying rate of growth was 6.9%, compared with a 4.6% rise in first-half sales. "In the third quarter Britvic has demonstrated robust top-line growth across Great Britain, international and Ireland," said Chief Executive Paul Moody in a statement. "We continue to remain cautious about consumer sentiment in our trading territories, but as a result of our strong performance in the quarter and in the year to date, the board remains confident of meeting current market expectations for the full 2010 financial year." The summer months are key for Britvic, with about 70% of its profit generated in the second half of its financial year. Britvic has enjoyed a very strong recession, as consumers have reverted to trusted brands such as Pepsi and Robinsons. The company's stock market performance reflects this, with Britvic shares up more than 60% in the last year. They closed Thursday at 518 pence. -By Michael Carolan, Dow Jones Newswires; 44-20-7842-9278; [email protected] (END) Dow Jones Newswires July 23, 2010 03:12 ET (07:12 GMT)