Company says legislation on sweetened drinks is one of biggest risks for business as it announces 7.3% rise in pre-tax profit

Britvic plans to change the recipes for more of its drinks in order to avoid the sugar tax, which is expected to be introduced in the UK in 2018.

Government plans for the tax were confirmed in the Queen’s speech on Wednesday. The Britvic chief executive, Simon Litherland, said the company was aiming to cut the calories in its products by 20% within four years