UK: AG Barr remains bullish on FY after solid summer, autumn sales
AG Barr saw a rise in late summer, autumn sales
AG Barr has reported a healthy rise in late summer and autumn sales and remains confident on delivering on its full-year expectations.
In an interim management statement today (5 December), the North Lanarkshire, Scotland-based group said that sales in the 18 weeks to 1 December climbed by 8%, while volumes rose by 6.4%. In the ten months to 1 December, sales climbed by 6.7%, while volumes were up 5.1%, ahead of the overall market.
“Our brands continue to perform well and in the period, our margins have been in line with our expectations,” the Irn Bru producer said.
In September, the company reported that its failed merger attempt with UK rival Britvic had dented first half profits.
Today the company warned: “The soft drinks market remains highly competitive as we enter the important Christmas trading period.”
But it added: "We are now executing our strong seasonal trading plans and remain confident of delivering our full-year performance expectations despite tough year-on-year trading comparatives."
Barr said its operations over the past few months have been supported by a “strong performance” at its new Milton Keynes site, while a second phase of investment in the facility is “under consideration”.
To read the company's full statement, click here
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