Leading International Investment Research

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Leading International Investment Research, Edison Investment Research

Equity Bottom-Up

<p>In FY18 the UK sugar levy (SDIL) and CO2 shortage took the shine off a potentially landmark summer. Nevertheless, Britvic (BVIC) delivered good EPS growth of 6.4% on revenue up 5.1%. A five-year track record of 10% EPS CAGR, with debt within target, indicates earnings quality. Looking ahead, as the business capability programme ends, bringing planned returns, further growth and lower leverage may narrow the wide discount to peers.</p>

In FY18 the UK sugar levy (SDIL) and CO2 shortage took the shine off a potentially landmark summer. Nevertheless, Britvic (BVIC) delivered good EPS growth of 6.4% on revenue up 5.1%. A five-year track record of 10% EPS CAGR, with debt within target, indicates earnings quality. Looking ahead, as the business capability programme ends, bringing planned returns, further growth and lower leverage may narrow the wide discount to peers.

Britvic - Managing events for sustained returns

Britvic PLC

Britvic - Managing events for sustained returns