MARKET TALK: Britvic Reports A Robust Update - Shore

23rd Jul 2010 08:06

0706 GMT [Dow Jones] Britvic's (BVIC.LN) trading statement shows a resilient performance and is a robust update, says Shore Capital. Says underlying British, international and Irish businesses see revenue growth for the quarter of 6.9% against the prior year. Notes that management remains cautious about consumer sentiment but is confident of meeting current market expectations for the current financial year. On a P/E basis, says it is trading at a discount to both Nichols (NICL.LN) and AG Barr (BAG.LN), both not rated, yet based on consensus forecasts, says Britvic has stronger growth prospects. Places forecasts and hold recommendation under review. Shares -1% at 513p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 23, 2010 03:06 ET (07:06 GMT)