AG Barr's profits lose their fizz

published 24 September 2012

Scottish soft drinks firm AG Barr turned in half-year pre-tax profits behind some estimates, as it confirmed that merger talks with bigger rival Britvic are still in progress.

Profit before tax and exceptional items slipped to £14.9m in the six months ended July 28th, from £16.2m in the corresponding period of last year. Broker Panmure Gordon had forecast a figure of £15.6m.

The top line was above the broker's expectations (of £129.7m), however, with turnover up 4.9% to £130.0m from £124.0m the year before.