AG Barr FY sales expected to slip 1.5%
AG Barr will release its full year results on 29 March
Soft drinks maker AG Barr has warned that its full-year sales are likely to come in behind the previous year, citing a challenging first six months of 2015.
The Irn Bru and Funkin owner said in a trading statement today that sales for the 53 weeks to the end of January 2016 are expected to be GBP257m (US$368m). In the year prior, net sales were GBP260.9m.
However, the company expects sales in its fourth quarter to be 2.5% up on the same period last year.
The soft drinks market in the UK remains "challenging and highly competitive", the company warned. "Having dealt with the challenges of the first half, and successfully managed the festive trading period, we are on course to meet our expectations for the year," AG Barr said in the update.
Full results for the period will be reported on 29 March.
Last February, AG Barr acquired cocktail mixer company Funkin for GBP21m.
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