UK: AG Barr H1 profits rise, confident on FY
AG Barr has recorded a 19% increase in first-half pre-tax profits
AG Barr has recorded a 19% increase in first-half pre-tax profits and said its remains confident of meeting expectations for the full year.
For the six months to the end of July, the Irn-Bru maker earned GBP16m (US$25m), boosted by strong demand for its core brands, the firm said today (28 September).
Total sales rose by 13.9% year-on-year to reach GBP119.2m, driven by a strong performance across the whole business. Sales of the Rubicon CSD brand were up by 37%, while Irn-Bru sales increased by 8%.
AG Barr said its core brands Irn-Bru, Rubicon and Barr, all performed "significantly ahead" of the total soft drinks market with "excellent growth" across the UK as a whole.
"We are now entering a period of tough comparable trading performance," the firm warned. "AG Barr has delivered a strong and balanced business performance across the first half and in the second half we plan to maintain our efforts to control costs at the same time as we continue to invest in our brands and infrastructure to drive future growth.
"Despite poor late summer weather, trading in the first few weeks of the second half has continued to give us confidence that we will meet our full-year expectations," the firm added.
AG Barr is currently trading at 1,255.00 pence, down 4.00 pence or 0.32%, at 9.50am BST on the London Stock Exchange.
To view the full release click here.
- Focus - Pernod's YTD Performance by Region
- Comment - Will We Understand the Language of Rum?
- Focus - Heineken's Q1 Performance by Region
- just On Call - Pernod shifts Scotch focus in China
- just The Preview - Pernod Ricard's Q3 & YTD
- CFO of Diageo's United Spirits stands down
- Pernod Ricard sees YTD recover as sales increase
- Remy Cointreau US head to step down
- BrewDog launches GBP25m crowd-funding attempt
- Africa "subdued" but Heineken sees Q1 rises
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Bacardi Limited - Strategy and SWOT Report
- ALDI 2015: Radically transforming Anglo Saxon grocery markets