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

Imperial Brands has an 8.3% dividend yield – but what’s the catch?
Share tips

Imperial Brands has an 8.3% dividend yield – but what’s the catch?

With an impressive dividend yield of 8.3%, Imperial Brands looks to be one of the most attractive income stocks in the FTSE 100 . But investors should…
6 Jul 2022
Can Royal Mail continue to deliver its 7.6% yield?
Share tips

Can Royal Mail continue to deliver its 7.6% yield?

Royal Mail shares are yielding 7.6% this year. But it’s facing some huge challenges, says Rupert Hargreaves. So is Royal Mail’s dividend sustainable?
6 Jul 2022
Saga’s figures are heading in the right direction – so should you buy?
Share tips

Saga’s figures are heading in the right direction – so should you buy?

Saga the over-50s travel and financial services specialist, has been struggling for years. But now, with the pandemic behind, it it is planning for fu…
5 Jul 2022
Director dealings w/e 1 July: what company insiders are buying and selling
Stocks and shares

Director dealings w/e 1 July: what company insiders are buying and selling

Directors’ share dealings can often give investors an insight into the sentiment of company insiders. Here are some of the biggest deals by company di…
5 Jul 2022

Most Popular

Ray Dalio’s shrewd $10bn bet on the collapse of European stocks
European stockmarkets

Ray Dalio’s shrewd $10bn bet on the collapse of European stocks

Ray Dalio’s Bridgewater hedge fund is putting its money on a collapse in European stocks. It’s likely to pay off, says Matthew Lynn.
3 Jul 2022
Persimmon yields 12.3%, but can you trust the company to deliver?
Share tips

Persimmon yields 12.3%, but can you trust the company to deliver?

With a dividend yield of 12.3%, Persimmon looks like a highly attractive prospect for income investors. But that sort of yield can also indicate compa…
1 Jul 2022
Is inflation about to drop as recession takes hold?
UK Economy

Is inflation about to drop as recession takes hold?

Central banks are raising interest rates in an attempt to curb soaring inflation. But will that push the economy into recession? John Stepek looks at …
5 Jul 2022