UK: AG Barr on course to meet FY expectations
AG Barr said it expects a 6% rise in like-for-like sales for the full-year
AG Barr has toasted a strong end to its financial year and has said it expects to meet all of its full-year targets.
The Irn-Bru producer said it predicts a 6% rise in like-for-like sales for the 12 months to 28 January, on the back of a strong fourth quarter and continued demand for its core brands. Like-for-like sales in the final quarter are expected to come in around 12% ahead of the prior year, the company said in an interim statement today (26 January).
AG Barr said all of its core brands performed well during the year, with Irn-Bru delivering "consistent long-term growth" in the UK, and its Rubicon and KA brands producing double-digit rises. Subsequently, the company said it is on course to meet its sales and profits forecasts for the full-year.
However, AG Barr warned that it expects to see "an increasingly competitive market place" over the course of the next financial year.
Nevertheless, it added: "We do see sales growth opportunities across our core brands as we continue to drive our product distribution and innovation activities. We will maintain our focus on costs throughout our total operation to ensure our margins are protected."
AG Barr's share price climbed by 2.13% to GBP1.249 at 0952 GMT.
AG Barr will announce its full-year financial results on 26 March.
Click here to view the full trading update.
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