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Drinks

AG Barr Profits Up By Nearly 10% To £38m

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AG Barr Profits Up By Nearly 10% To £38m

Profits at Scottish drinks company AG Barr rose 9.6% in 2013 to £38.1 million, according to figures released yesterday.

The Cumbernauld-based maker of Irn-Bru and Srathmore bottled water said in its final results, for the 12 months to 26 January 2014, that turnover rose 6.9% to £254.1 million. 

One of AG Barr's biggest achievements over the financial year was to reduce debt from £25.6 million in 2012 to just £2.1, accounts showed.

Chief executive Roger White said the firm was in robust financial health and in a strong position to achieve growth.

"It has been another year of significant progress at AG Barr which has seen us outperform the market and improve our conversion of sales into profit growth," he said.

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"The financial position of the group has grown stronger in the past 12 months and the platform for growth has been further reinforced by the performance of our brands, assets and people."

He also indicated that the company retains an appetite for future merger deals, despite the failure of its proposed £1.4-billion merger with rival Britvic last year.

© 2014 - European Supermarket Magazine by Enda Dowling

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