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raw materials rise shakes britvic - polyethylene terephthalate film

by:Cailong     2019-07-26
raw materials rise shakes britvic  -  polyethylene terephthalate film
Britvic's stock fell a bit today, down 10% after the company warned that its most basic raw materials had been "unprecedented" in recent weeks ".
Companies behind Tango, dessons and J20 say sugar in drinks and steel in cans are getting more expensive.
Its cost is likely to rise 9% to 11% this year, so the price of Pepsi is likely to rise.
The resin polybendiester needed for plastic bottles is also soaring.
Paul Moody, chief executive, said: "Since the last update, we have witnessed a rapid and unprecedented increase in the cost of key raw materials.
"This is due to a shortage of supply in the market, for example, we saw pet prices from oil soar by about 20% in the last month alone.
"The stock price fell 42. 5p to 375.
The company is valued at £ 0. 901 billion p.
Britvic still thinks revenue will grow this year. The Chelmsford-
The UK-based group has the right to sell Pepsi products in the UK.
This is the second one. biggest soft-
British beverage manufacturer after cocaCola.
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