28th May 2021 09:00
(Alliance News) -Â Soft drinks business AG Barr PLC on Friday said year-to-date trading has been in line with internal expectations as Covid-19 restrictions ease.
Ahead of its annual general meeting being held on Friday, AG Barr said trading at Barr Soft Drinks has been "relatively strong" even with lockdown restrictions in place for most of the first quarter. As rules have relaxed, sales volumes and mix have been boosted with a shift back towards 'drink now', hospitality and leisure.
The Funkin cocktails business is already starting to see the benefits of lockdown easing, delivering on-trade sales that provide "optimism" for the sector's recovery. Meanwhile, at-home strength for Funkin ready to drink cocktails is continuing.
Current trading was said to be "encouraging" and AG Barr has plans to further invest in its brands - as well as plans to recommence dividend payments during the current financial year.
"Whilst there remains some uncertainty in the short term as pandemic related restrictions ease, we believe we are well-placed to drive the growth of the business and remain confident in the company's prospects for the full year," the Irn-Bru maker said.
Shares in AG Barr were down 0.4% at 527.95 pence in London on Friday.
By Lucy Heming;Â [email protected]
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