UK: AG Barr FY profits boosted by "exotic juices" growth
- FY net profits jump 25% to GBP28m
- Sales up 6.6% on 2010 to GBP237m
- Operating profits rise 12% to GBP35m
- Rubicon, KA post combined 15.7% year-on-year revenue growth
Rubicon has helped boost AG Barr's profits in 2011
Operating profits also rose, by 12% to GBP35m.
The company said all its core brands performed well, with “particularly strong growth in our exotic juice brands, Rubicon and KA”. The two brands delivered a 15.7% year-on-year revenue growth, helped by the launch of the KA brand into the still drinks category.
Roger White, Barr's chief executive, said the company had “demonstrated its resilience in the face of challenging market conditions, in particular coping with substantial raw material cost headwinds while achieving revenue growth based on brand development, innovation and improved focus on execution”.
But, he added: “We anticipate 2012 will be another challenging year in the UK, with household disposable incomes remaining under pressure.”
The company is currently in the final stage of “contractual discussions” on a new production and warehouse facility in Milton Keynes, with “substantial capacity”.
White added: “We remain confident that our financial strength, backed up with strong sales momentum across our core brands, excellent innovation and our anticipated capital investment programme will facilitate further good progress.”
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