Second half off to strong start at AG Barr

Irn-Bru maker AG Barr saw first half profits decline but bucked the market trend in increasing volumes during the period.

Irn-Bru maker AG Barr saw first half profits decline but bucked the market trend in increasing volumes during the period.

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, but its figure might have been on a constant currency basis; AG Barr said it took a £1m hit from adverse currency movements, although around £0.6m of this is expected to unwind in the second half of the year. On a constant currency basis, first half profit before tax was £0.3m behind the similar period in the prior year.

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