Coronavirus: Confirmed cases, deaths and recoveries
British soft drinks producer Britvic has released an update on the impact of the coronavirus (Covid-19) and committed that its supply chain will continue to operate and will not see any discontinuation.
It also said that it does not see any potential disruption at its production or distribution sites as of now due to Covid-19.
However, the company noted that the outbreak of the coronavirus may have a material impact on its revenue and earnings in 2020.
It further added that the closure of on-trade outlets and restrictions in people movement has impacted product consumption on the outlet, as well as on the go segments.
Britvic CEO Simon Litherland said: “I have spoken many times about Britvic’s resilience in the face of tough external circumstances. Never has that been tested as much as is happening now.
“I am always proud of the way our people respond to a challenge and once again they are delivering beyond my expectations.
“Soft drinks has historically been a resilient category in any downturn. Britvic starts from a strong financial position and we are taking further action to protect our cashflow and profitability.”
The British soft drinks producer explained that it is too early to accurately estimate the full effects of the coronavirus outbreak.
Litherland further added: “Our brands’ consumer appeal is enduring in good times and bad, and we are confident in our ability to bounce back strongly as normality returns. The long-term investment case for Britvic remains intact.
“In the short term, our priorities remain the welfare of our people, maintaining the availability of our products to consumers through our diverse customer base, and sound financial management of the business.”
The three facilities that are part of the deal, are located at La-Roche-sur-Foron, Château-Thébaud and Nissan-lez-Enserune.