Soft drinks group AG Barr, which is expected to complete its £1.4 billion merger with Britvic next month, today said its full-year revenues are on track to grow about 7 per cent to £253 million, despite “very poor weather” during the summer.
The Cumbernauld-based maker of Irn-Bru said sales during the final three months of its financial year had grown more than 5 per cent, which it said was “particularly pleasing” given the double-digit year-on-year growth in the same period last year.
Chief executive Roger White, who is due to take the same role when Barr and Britvic complete their merger, said Irn-Bru had performed well in “challenging conditions”, boosted by a new marketing campaign, while its Rockstar and Rubicon brands had also enjoyed strong demand.
Overall, White said the group was on track to meet expectations for the year ending 26 January when it publishes its results on 21 March.
Delivering today’s trading update, he added: “Barr has delivered a robust performance in a market place impacted by the combination of very poor summer weather and the ongoing economic challenges faced by consumer goods companies, notably raw material cost pressures and inconsistent consumer demand.
“Looking forward, it is unlikely that these challenges will materially change, however we remain cautiously optimistic that the combination of our proven operating model, continued focus on efficiency, strong brand equity, sound balance sheet and growth potential leave us well placed to continue to build on this performance.”
