UK: AG Barr reports FY revenue rise
Scottish soft drinks group AG Barr has said that revenue and volumes grew strongly in 2008, outperforming a shrinking market.
AG Barr, which makes Irn Bru, said in a trading update today (29 January) that the performance was in-line with expectations. It did not disclose full-year figures.
Growth for the firm comes against a soft drinks market down 4% in volume and 2% in value for the 26 weeks to 27 December, it said, citing Nielsen figures.
Barr's third quarter revenue rose by 15.5%, or 7% without the contribution of the Rubicon juice business, which was acquired in August.
The firm said today that around 12 job losses were expected in London as part of the integration of Rubicon. A consultation with employees has begun. Rubicon's performance has been in-line with expectations, Barr said, but added that profit has been hit by "higher than anticipated input costs".
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