AG Barr serves up increased revenue

Irn-Bru maker AG Barr posted a robust increase in revenue in the 18 weeks to the start of December and says it remains confident of delivering on full year expectations.

Revenue for the 18 weeks to December 1st 2012 increased 9%, with volumes up by 6.6% from the same time a year before. Year to date revenue has increased by 6.5% compared to last year's figure of 4.6%.

"Our core brands have performed well in what has continued to be a competitive but robust soft drinks market," the fizzy drinks maker said.

It said margins during the period have performed in line with company expectations.

Commenting on the potential £1.4bn Barr Britvic merger, it confirmed a submission for the merger has been sent to the Office of Fair Trading and a response to this submission is expected mid January 2013.

Otherwise AG Barr said it is making good progress with the development of its new manufacturing and logistics facility at Magna Park, Milton Keynes. The handover of the building from the developer is anticipated in February 2013 and fit out expected to commence soon after.

The group said its balance sheet remains strong and there have been no significant changes in the financial position of the group since its interim results July 28th 2012.

"As we now enter the important Christmas period we anticipate that the marketplace will remain highly competitive. However, our sales execution activities are well developed and we remain confident of delivering our plans for the full year," said the company.

CJ