AG Barr PLC on Tuesday reported increased revenue due to a strong first-half performance from its soft drink brands.
AG Barr is a Cumbernauld, Scotland-based branded beverage business. Its brands include soft drinks Rubicon, Irn-Bru and Boost, and ready-to-drink cocktails Funkin.
AG Barr said revenue was about £221 million in the six months that ended July 27, up 5.0% from £210.4 million a year before.
This was attributed to a 7% increase in soft drinks revenue, led by strong brand performances from Rubicon, Irn-Bru and Boost.
Looking forward, AG Barr said it was ‘on track’ to meet its full-year guidance, and remains ‘committed to improving profit margins’. At its annual results in March, AG Barr had predicted ‘continued delivery of revenue and profit growth in the year ahead’.
Chief Executive Euan Sutherland commented: ‘Our four power brands - Irn-Bru, Rubicon, Boost and Funkin - have clear paths to long term growth, supported by strong innovation programmes across all of our portfolio and opportunities to work even more closely to add value to our customers, in all channels.’
AG Barr shares were up 1.1% to 637.02 pence per share in London on Tuesday morning.
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