UK: AG Barr toasts strong Q1 sales
AG Barr saw total sales climb by 6.3% in the first quarter
AG Barr has hailed a strong start to the year despite increased levels of competition and an uncertain consumer environment.
For the 15 weeks to 14 May, the UK-based soft drinks maker saw total sales climb by 6.3% compared to the same period last year. The Rubicon and Tizer producer said today (23 May) that it enjoyed a particularly strong performance, given the rise in levels of competitor promotions in the year so far.
AG Barr said margins are "in line with expectations" but that it is dealing with "continued high levels of input costs", particularly in PET and energy. These are being offset by price increases, it said.
"We aim to grow our sales and protect our operating margins over the balance of the year, with continued investment in brand development at the same time as we focus on costs and reduce the risk associated with volatile raw materials costs," the company said.
AG Barr will release its next full set of results in September.
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