20 October 2011 – trading statement
A trading statement has been released covering the 52 weeks to 2 October 2011. The new information provided covers the final quarter, starting on 1 July. We very recently tipped Britvic ahead of this news and our rationale for investing in the company remains very much intact, even though the share price has moved up 5% on the day, even in a falling market.
The one negative is that conditions in Ireland remain difficult but that was already factored into our recommendation. With full year results now due to be in line with expectations we continue to rate the shares as a BUY.