News in brief: Big demand in UK fizzes up Britvic, China poised to give Glenstrata the OK, Amazon’s gain is HMV’s pain
Bubbling demand for Britvic’s fizzy drinks including Pepsi and 7 Up in the UK helped its revenues rise 4.8% to £303.2 million in the three months to today.
The drink maker also set out plans to accelerate distribution of its Fruit Shoot drink, whose faulty cap damaged profits last year, across the US and to launch it in Spain. Britvic makes and sells PepsiCo brands in Britain and Ireland.
China poised to give Glenstrata the OK
Mining and commodities giants Glencore and Xstrata are within a whisker of consummating their £56 billion mega-merger after China indicated that its regulator had no reason to oppose the deal. Official guidance from China suggests the deal is set to clear its last hurdle, having been approved by investors and by regulators in Europe and South Africa.
Amazon’s gain is HMV’s pain
The part Amazon played in HMV’s downfall was laid bare today after the online giant delivered huge gains in the entertainment sector over Christmas. Amazon grew its market share of videos, games and music by 3.1% to a record 23.4% in the 12 weeks to December 23, said Kantar Worldpanel Entertainment. HMV, which went into administration last week, grew its sales by just 0.2% to 17.5%.
