27th May 2015 06:44
LONDON (Alliance News) - AG Barr PLC on Wednesday said its sales declined in the first 15 weeks of its financial year, in line with its expectations, as sales stabilise following a strong first half performance a year earlier.
The soft drinks company said it remains on track to meet market forecasts for the year.
FTSE 250-listed AG Barr said total group sales in the fifteen weeks from January 26 to May 9 were down by 1.1% year-on-year. It said the sales decline reflects a return to a more normal sales performance following a strong first half a year earlier, related to marketing and promotional activity around the Glasgow 2014 Commonwealth Games.
Margins for the group have held up well, the company said, as it continues to push efficiency measures across the business. It added it has a robust summer programme in place for its brands and expects to see sales growth return in the second half.
AG Barr said its remains confident on the prospects for the company and is on course to meet market expectations for the full year.
By Sam Unsted; [email protected]; @SamUAtAlliance
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