AG Barr sales still sparkling

23rd May 2011 07:21

Scottish soft drinks maker AG Barr toasted a strong start to the year despite increased levels of competition and promotion and is confident of continued progress. The Irn Bru maker said total revenue for the 15 weeks to 14 May 2011 increased by 6.3% compared to the same period last year despite a continued uncertain consumer environment. The group, whose other brands include Rubicon and Tizer, said margins are in line with expectations with continued high levels of input costs offset by price increases and further management action to reduce operating costs. Overall raw material inflation remains at previously guided levels, it said. "The combination of good sales momentum, stable margins and strong growth plans at this early stage of the year, give us confidence that we will continue to deliver good growth in line with our expectations, despite the increasingly competitive market place," said AG Barr in a company statement. AG Barr added that its balance sheet remains strong. CJ