AG Barr toasts eight per cent interim revenue rise

5th Dec 2013 07:06

- Interim revenue improves on strong demand for brands- Revenue up 8.0 per cent, volumes up 6.4 per cent- Confident of meeting full-year targets Soft drinks firm AG Barr toasted a robust set of interim figures and, as it enters the key Christmas trading period, said it is confident of meeting full year expectations. The Scottish-based maker of Irn-Bru and Orangina, said revenue for the 18 weeks to December 1st increased by 8.0%, with volume increasing by 6.4% compared to the same period last year. Year-to-date revenue increased by 6.7%, with volumes up 5.1%. It said brands continued to perform well in the period, with margins in line with company expectations. It added that the company balance sheet remains strong and there have been no significant changes in its financial position since the end of July. In July AG Barr booked costs after its failed £1.4bn merger attempt with Britvic, its England-based rival."Our operational delivery over the last few months has been supported by the strong performance of our new site at Milton Keynes. We are progressing well through the plant commissioning phase and have completed the logistics transfer programme on time. The second phase of our site investment at Milton Keynes is now under consideration, the group said in a company statement. "The soft drinks market remains highly competitive as we enter the important Christmas trading period. We are now executing our strong seasonal trading plans and remain confident of delivering our full year performance expectations despite tough year on year trading comparatives."CJ