AG Barr On Track To Grow Revenue By £252m
Published on Jan 23 2014 8:06 AM in Drinks
British soft drinks maker AG Barr is on track to grow its full-year revenues by 6% to about £252 million, the firm said today.
Strong trading momentum in three months to 27 January lifted revenues 5.5% on the same period a year ago. The company said that fourth quarter performance was “particularly pleasing” given near double-digit growth reported in the second half of 2013.
The Scottish based company said it is still on target to meet its full-year expectations and expects to outperform the soft drinks market.
In a statement issued this morning, the company said that core brands brands continue to respond positively to the ongoing investment and development actions "despite the increased intensity of price-driven competition in all of the major trade channels."
The Irn-Bru maker, whose other brands include Rubicon and Strathmore waters, also said that underlying margins have improved from the previous year.
"AG Barr has delivered a consistent and robust performance in a marketplace characterised by volatile consumer demand and weather patterns, in addition to the ongoing economic challenges faced by consumers and a tough competitive environment," the company said.
"Looking forward, although it is unlikely that these challenges will materially change, we remain optimistic that the combination of our well-invested operating platform, strong balance sheet, proven business model and capacity for growth leave us well positioned to continue to deliver long term shareholder value."
© 2014 - European Supermarket Magazine by Enda Dowling