28th Jan 2015 07:43
LONDON (Alliance News) - Soft drinks company AG Barr PLC said Wednesday it expects its performance to outpace the wider sector for the fourth quarter of its financial year.
The FTSE 250-listed company, which makes the Irn-Bru and Lipton Ice Tea drinks, said it expects sales growth of more than 5% for the fourth quarter to January 25, with sales momentum recovering following a slow third quarter.
The group said it expects its revenue for the full year to January 25 to be up around 2% at GBP259 million. It said year-on-year sales growth for the year, stripping out lost Orangina revenue, would be around 3%.
The group said it core brands all performed well over the year against a low growth environment in the soft drinks market. The group said, however, that the soft drinks market has been volatile over the year, with periods of intense competition as brand owners seek to win market share.
AG Barr said it has taken action to control its costs over the year in order to protect margins within a competitive environment and said its decision in the second half to eschew heavy price cutting has not impacted its overall profit for the year.
The company said it is on track to meet market expectations for the full year and will announce its results on March 24.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Barr (A.G.)