Barr confident of delivering full-year results in line with forecasts
Irn-Bru maker AG Barr has reported a nine per cent rise in revenues year on year for the 18 weeks to December 1, 2012.
Barr said volume sales rose by 6.6 per cent year on year for the 18-week period, and revenues for the year to date are up 6.5 per cent against a rise of 4.6 per cent last year.
The Cumbernauld-based company said it is confident of delivering full-year results in line with forecasts.
In a market update posted today, Barr said: “Our core brands have performed well in what has continued to be a competitive but robust soft drinks market.
“The market, as measured by Nielsen, increased in value by 3.3 per cent over the 26-week period ending 24 November 2012 with volume flat.
“In the period our margins have performed in line with our expectations.
“Our balance sheet remains strong and there have been no significant changes in the financial position of the company since the publication of the interim accounts for the six months ended 28 July 2012.
“We have continued to make good progress with the development of our new manufacturing and logistics facility at Magna Park, Milton Keynes.
“The site construction is now well under way, with handover of the building from the developer anticipated in February 2013 and fit out expected to commence soon after.”
Barr agreed merger terms with soft drinks giant Britvic in November.
Barr said it has now filed a detailed submission on the merger with the Office of Fair Trading and a response is expected mid-January 2013.