20th Jul 2021 09:34
(Alliance News) - AG Barr PLC on Tuesday said full year profit will be ahead of its previous expectations, after a strong performance as the hospitality industry reopened.
Trading since March 30 has been better than anticipated, driven by a combination of factors. Some are Covid-related, including customer restocking in the hospitality sector in particular. Others are associated with underlying brand momentum, such as the positive performance of recent product launches, the company said.
The company now expects profit for the financial year ending January 2022 to be slightly ahead of that in financial 2020, before the pandemic, in which pretax profit was GBP37.4 million.
In financial 2021, pretax profit fell 30% to GBP26.0 million.
Cumbernauld, Scotland-based Barr is a soft drink manufacturer which owns brands such as Irn-Bru and Rubicon.
Shares in Barr were up 0.8% at 531.00 pence each in London on Tuesday morning.
By Amrit Sahota; [email protected]
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