Barr(A.G.) PLC AGM Statement (1049A)
28 May 2021 - 4:00PM
UK Regulatory
TIDMBAG
RNS Number : 1049A
Barr(A.G.) PLC
28 May 2021
28 May 2021
A.G. BARR p.l.c.
AGM Statement
A.G. BARR p.l.c.,"the Company", which produces and markets some
of the UK's leading drinks brands, is holding its Annual General
Meeting today at 12pm BST at which the following comments will be
made :
"We are pleased to announce that trading in the year to date is
in line with the Board's expectations.
Despite lockdown restrictions being in place across much of the
first quarter, Barr Soft Drinks trading has been relatively strong
since the start of the new financial year. As lockdown restrictions
have eased we have seen a positive impact on both our sales volume
and mix, with a shift back towards 'drink now', hospitality and
leisure. Our soft drinks trading momentum has been supported by
encouraging new product launches - Rubicon RAW Energy in particular
achieving promising initial customer listings and consumer
feedback.
While the pace and extent of the reopening of the hospitality
sector varies by region, our Funkin business is already beginning
to see the benefits, delivering on-trade sales that provide
optimism for the sector's recovery. Across the take-home channel,
the strong performance of our Funkin ready to drink cocktails
during 2020 is continuing, with an increase in both customer
listings and new consumers enjoying Funkin cocktails at home.
Current trading is encouraging and we have clear plans to
further invest in our brands, with exciting consumer engagement and
marketing activity planned across the year.
Our balance sheet remains strong and we remain committed to our
plan to recommence dividend payments during the current financial
year. A further update in this regard will be provided in our half
year trading update in early August 2021.
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."
For more information, please contact:
A.G. BARR 0330 390 3900 Instinctif Partners 020 7457 2010/05
Roger White, Chief Executive Justine Warren
Stuart Lorimer, Finance Director Matthew Smallwood
Next trading update - Aug 2021
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END
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