Britvic losses its fizz as Europe-wide carbon dioxide shortage leaves it unable to capitalise on the hot weather
The Europe-wide carbon dioxide shortage left drinks firm Britvic unable to make the most of a surge in demand due to hot weather.
A wave of temporary factory closures has hit production of the gas, which is vital for fizzy pop such as Britvic’s Tango and R White’s brands.
The firm, which also makes Pepsi in the UK, said carbonated drinks sales were down 2.9 per cent in the three months to July 8 as a result, despite the heatwave which would normally lead to a major pick-up in sales.
Gone flat: Britvic was forced to switch its marketing efforts to still drinks due to a Europe-wide carbon dioxide shortage
Britvic switched its marketing efforts to still drinks, such as J20, giving this division an 11.7 per cent sales boost.
Overall, worldwide sales fell 0.6 per cent.
Britvic said that carbon dioxide supply is now back to normal, meaning it has been able to rebuild its stock.
Chief executive Simon Litherland said that the strong performance in other divisions meant the impact of the shortage was limited and Britvic remained on course to meet investors’ expectations.
Investors took a rosy view and shares rallied 4.5 per cent, or 35p, to 814p.