UK: Poor weather slows AG Barr sales in year so far
AG Barr has seen its sales slow during the summer, thanks to the poor weather in the UK.
The soft drinks group, which in October signed a five-year deal to sell the Rockstar energy drinks brand in the UK, said today (7 December) that sales in the year so far have increased by 5% on the corresponding period in 2006. In the 13 weeks to the end of October, however, sales slid by 1% year-on-year, with the company highlighting the unseasonable weather in the summer as a reason for the dip.
While operating margins remained in line with expectations, the company warned that raw material prices - especially glass, aluminium and plastic - are expected to rise well into next year.
"Several new products have been launched in the period including the new St Clements Juice and Smoothies range which have gained strong initial listings," Barr said. "Good progress was made in the period towards our launch date for the Rockstar Energy brand, which successfully took place in late November."
Looking forward, Barr said trading in the year so far has been in line with expectations. "We believe our plan to blend increased advertising, strong in-store execution and a competitive price proposition should ensure we can effectively compete across this key trading period," the company concluded.
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