24th Jul 2015 06:56
LONDON (Alliance News) - Drinks company AG Barr PLC on Friday said trading in the first half was subdued, in line with its expectations, but said it still expects to meet its expectations for the full year despite the competitive trading environment with which it is currently grappling.
The FTSE 250-listed company, which makes soft drinks including Irn-Bru and Rubicon, said trading in the six months to the end of June remained subdued, as it had anticipated, thanks to tough comparatives from the year before and changes to market promotional phasing, in addition to poor weather, having impacted its sales performance.
The company said it expects its revenue for the first half to be around GBP128 million, down 5% year-on-year. Market conditions remain competitive for the company, with ongoing price deflation across the soft drinks market and continued high levels of price promotions.
The group reiterated that its financial performance will be weighted to the second half and, while it expects the competitive trading environment to prevail, it still expects to meet its expectations for the year if current conditions continue.
By Sam Unsted; [email protected]; @SamUAtAlliance
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