Higher raw material prices have taken the fizz out of Britvic this morning.
The soft drinks maker put out a second quarter trading statement this morning, saying:
The pace of input-cost inflation in recent weeks has been unprecedented, leading us to revise the full-year GB & Ireland input-cost inflation guidance to 9-11%. In particular, we have been adversely impacted by sharp recent increases in the price of PET, steel and sugar. The forecast of particularly challenging input-cost inflation pressure for Britvic France, given its product mix, remains unchanged.
The shares were off almost 12% at 11:15, down 49p to 369p.
