3rd Dec 2015 07:23
LONDON (Alliance News) - Scottish soft drinks maker AG Barr PLC on Thursday said trading remains in line with its expectations for the full year, with an improvement in sales in the third quarter following a tough first half.
The FTSE 250-listed company, which makes Irn-Bru, Rockstar energy drinks and Rubicon fruit juices, said revenue from its ongoing businesses in the 18 weeks to November 28 was up 3.9% year-on-year, while financial year to date revenue from its ongoing business at November 28 was down 2.2% on a reported basis.
Revenue improved in the third quarter after the group managed to put behind it the challenges it faced in the first half, when it took a hit from price deflation, poor weather conditions and tough year-earlier comparatives.
The group said despite market conditions remaining tough, margins are in line with its expectations as it has continued to cut costs.
AG Barr said it expects the soft drinks market to remain very competitive over the festive trading period, but said, assuming satisfactory Christmas trading, it is on track to meet its expectations for the full year to January 2016.
By Sam Unsted; [email protected]; @SamUAtAlliance
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