AG Barr boosts revenue despite dismal weather

Soft drinks maker AG Barr improved revenue, following a good performance from its core products despite the soggy weather, and said it is very confident in future trading.

Soft drinks maker AG Barr improved revenue, following a good performance from its core products despite the soggy weather, and said it is very confident in future trading.

The Irn-Bru maker said total revenue for the 15 weeks to May 12th 2013 increased 2.4% from the same period last year.

The group said this compares favourably with the overall soft drinks market, as measured by Nielsen, which was flat in revenue terms during the same period. The drinks market has been hurt by the unseasonable weather and a strong prior year performance.

AG Barr said: "Whilst it is still early in our financial year, our core brands continue to perform well despite the weather, economic challenges and significant increases in competitor promotional activity."

During the period, the group said margins performed in line with company expectations as it continues to invest in marketing across all of its core brands.

Commenting on the potential merger with Britvic, it added: "We continue to cooperate fully with the Competition Commission and in line with the published timetable we expect to receive notification of their provisional findings in early June."

Looking ahead the Cumbernauld-based firm said as it enters the key summer trading period, it expects the marketplace will remain highly competitive.

"Our commercial and operational plans are well developed and we remain focused on delivering a strong result for the year. We remain very confident in our future prospects," it said.

AG Barr said its balance sheet remains strong and there have been no significant changes in its financial position since its update in January.

CJ

Recommended

Which assets will benefit as the “jam tomorrow” bubble pops?
Investment strategy

Which assets will benefit as the “jam tomorrow” bubble pops?

With tech stocks, cryptocurrencies and many other “long duration” investments crashing hard, the “jam tomorrow” bubble looks to be bursting. John Step…
24 Jan 2022
Three innovative Asian stocks to buy now
Share tips

Three innovative Asian stocks to buy now

Professional investor Fay Ren of the Cerno Pacific Fund highlights three of her favourite Asian stocks to buy now
24 Jan 2022
Share tips of the week – 21 January
Share tips

Share tips of the week – 21 January

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
21 Jan 2022
Seven cheap defence stocks to buy now
Share tips

Seven cheap defence stocks to buy now

We’ve got used to a world without war between major powers, but that era is coming to an end as Russia threatens Ukraine and China eyes Taiwan. Buy de…
21 Jan 2022

Most Popular

Shareholder capitalism: why we must return power to listed companies’ ultimate owners
Investment strategy

Shareholder capitalism: why we must return power to listed companies’ ultimate owners

Under our system of shareholder capitalism it's not fund managers, it‘s the individual investors – the company's ultimate owners – who should be telli…
24 Jan 2022
Three innovative Asian stocks to buy now
Share tips

Three innovative Asian stocks to buy now

Professional investor Fay Ren of the Cerno Pacific Fund highlights three of her favourite Asian stocks to buy now
24 Jan 2022
Temple Bar’s Ian Lance and Nick Purves: the essence of value investing
Investment strategy

Temple Bar’s Ian Lance and Nick Purves: the essence of value investing

Ian Lance and Nick Purves of the Temple Bar investment trust explain the essence of “value investing” – buying something for less than its intrinsic v…
14 Jan 2022