Pretax profit for fiscal 2023 declines due to pension adjustments and higher costs

  • Britvic’s pretax profit for fiscal 2023 fell due to pension adjustments and higher costs
  • Adjusted earnings before interest and taxes increased by 5.9%
  • Revenue rose to GBP1.75 billion from GBP1.62 billion
  • Dividend payout increased by 6.2%
  • Britvic expects inflation to moderate in the new fiscal year
  • The company plans to expand its presence in Brazil through acquisitions

Britvic, the U.K. maker of soft drinks, reported a fall in pretax profit for fiscal 2023. The decline was attributed to pension adjustments and higher costs. However, adjusted earnings before interest and taxes increased by 5.9%. Revenue also rose to GBP1.75 billion from GBP1.62 billion. In addition, the company raised its dividend payout by 6.2%. Looking ahead, Britvic expects inflation to moderate in the new fiscal year, particularly in packaging and energy. The company also plans to expand its presence in Brazil through acquisitions.

Factuality Level: 8
Factuality Justification: The article provides specific financial information about Britvic’s pretax profit, adjusted earnings before interest and taxes, and revenue. It also mentions the reasons for the fall in pretax profit and the factors driving revenue growth. The article includes statements from the company’s board members regarding future expectations and plans. However, it does not provide any sources or external perspectives to verify the information presented.
Noise Level: 6
Noise Justification: The article provides information on Britvic’s financial performance, including a fall in pretax profit due to pension adjustments and higher costs. It also mentions the company’s dividend payout and future plans. However, the article lacks in-depth analysis, scientific rigor, and actionable insights. It mainly focuses on financial figures and statements without exploring the consequences of decisions or holding powerful people accountable.
Financial Relevance: Yes
Financial Markets Impacted: The financial markets impacted by this news article are the UK market and the soft drink industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article reports on the financial performance of Britvic, a UK maker of soft drinks. It mentions a fall in pretax profit due to pension adjustments and higher costs, but also highlights the company’s dividend increase. There is no mention of any extreme events or their impact.
Public Companies: Britvic (N/A)
Key People: Michael Susin (Author), Rebecca Napier (Chief Financial), Simon Litherland (Chief Executive)

Reported publicly: www.marketwatch.com