Barr(A.G.) PLC Trading Update (5226U)
02 August 2022 - 4:00PM
UK Regulatory
TIDMBAG
RNS Number : 5226U
Barr(A.G.) PLC
02 August 2022
IMMEDIATE RELEASE 2 August 2022
A.G. BARR p.l.c.
("A.G. BARR")
Strong H1 trading - full year in line with expectations
A.G. BARR p.l.c., which produces and markets some of the UK's
leading drinks brands, including IRN-BRU, Rubicon and Funkin, today
announces a trading update in respect of the 26 weeks ended 31 July
2022.
We are pleased to report that revenue for the first half of the
financial year is expected to be c.GBP157m.
This represents year on year revenue growth of :
-- c.19% on a like-for-like basis, excluding both the 27th week
in prior year and the revenue contribution from MOMA Foods in the
current reporting period
-- c.16% on a reported revenue basis (27 weeks* to 1 August 2021 : GBP135.3m)
This strong revenue performance reflects the continued positive
momentum across all business units - Barr Soft Drinks, Funkin and
MOMA. Our growth has been driven by ongoing brand investment and
the successful execution of our pricing and promotional activity.
Trading performance further benefited from the year on year Covid
recovery across the market, particularly in the on-trade and out of
home sectors, as well as the exceptional British summer weather in
recent weeks.
Outlook
We anticipate that the UK's current high level of inflation will
continue across the balance of the year, with economic conditions
becoming increasingly challenging for consumers and industry alike.
Across the second half of the financial year we will continue to
invest behind our brands and believe that our strategy will support
continued growth. At the same time we will take appropriate
mitigating action to limit the full year impact of cost
inflation.
Roger White, Chief Executive, commented:
"Our brands are performing well and our business has continued
to demonstrate both its resilience and flexibility. While not
immune to the current cost inflationary pressures experienced
across the UK, looking forward into the second half of the
financial year, we remain confident of delivering a full-year
profit performance ahead of the prior year and in line with board
expectations."
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 update : Interim Results - September 2022
* 2021/22 was a 53-week financial year with a 27-week first
half. 2022/23 reverts to a 52-week year with a 26-week first
half
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTUPURCRUPPGQG
(END) Dow Jones Newswires
August 02, 2022 02:00 ET (06:00 GMT)
Barr (a.g.) (LSE:BAG)
Historical Stock Chart
From Apr 2024 to May 2024
Barr (a.g.) (LSE:BAG)
Historical Stock Chart
From May 2023 to May 2024