Irn-Bru keeps its sparkle as AG Barr report pre-tax profits

Mar 31 2009 Daily Record

IRN-BRU has kept makers AG Barr's profits fizzing despite the recession.

The 134-year-old soft drinks firm said underlying pre-tax profits increased by 9.7 per cent to £23.4million last year and their core brands grew ahead of the market in the year to January 31.

Sales of Irn-Bru and Diet Irn-Bru were up almost eight per cent.

Cumbernauld's Barr, who also make St Clements and Tizer, said they were confident they could cope with the uncertain times ahead.

But they warned the recession could affect their industry.

Chief executive Roger White said: "Despite the challenging economic climate, our business is financially strong and well capable of continuing to deliver sustainable growth.

"Over the last 12 months we have seen substantial growth in both sales revenues and profit despite a further summer of poor weather and the difficult economic environment."

Analyst Nicola Mallard said: "For those looking for security in this turbulent market, we think Barr shares offer a safe haven."

Robin Barr is to step down as chairman in May after 31 years and the post will pass outside the Barr family for the first time.