AG Barr confident for FY

8th Dec 2010 07:13

Scottish soft drinks maker AG Barr said quarterly revenue increased 6.4% from the year before and it remains confident of achieving full year targets."Current trading remains in line with our expectations despite a very competitive environment," the drinks maker, best known for its Irn Bru and Tizer brands, said in a company statement. The group, which has been widely tipped as bid target by the likes of Pepsi or Coca-Cola, said the 6.4% rise in quarterly revenue was achieved despite very strong growth the previous year. Revenue for the nine months to 30 October 2010 increased by 11.6%.AG Barr added, "General economic conditions continue to be challenging and raw material pricing, PET and sugar in particular, is both volatile and currently trending upwards. However we expect to continue to mitigate these cost pressures and consequentially we remain confident of delivering our plans for the full year."