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Britvic receives £333m cash injection

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Britvic receives £333m cash injection

Shares in Britvic climbed 5% after the soft drinks firm said it had secured new banking facilities through to May 2012.

The Chelmsford-based company, which includes Robinsons squash and Fruit Shoot in its portfolio, has agreed a new six-bank facility worth £283m, replacing a £300m arrangement due to mature in May 2010.

Prior to the commencement of the new facility, which is effective from May 2010, Britvic will have access to increased bank facilities of £333m.

Britvic finance director, John Gibney, said: “The successful conclusion to the refinancing is a reflection of our strong relationship with our banking partners and the confidence they have in our trading performance.”

Last year, the company reported a pre-tax profit of £70m, up 14% on the previous year, while turnover grew by 29% to £716m. Details of fees attached to the new facility were not disclosed in the update.

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Wednesday, October 18, 8:16 pm

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