LONDON (dpa-AFX) - A.G. BARR plc (BAG.L), a producer of drinks brands including IRN-BRU, Rubicon, Strathmore and Funkin, Friday said it expects higher revenues in the financial year ending January 26. Further, the company remains confident of delivering profit ahead of the prior year and in line with the Board's expectations.
In its pre-close trading update, the company said it expects full-year revenue to be about 277 million pounds, up about 5% on the prior year's 264.1 million pounds.
The company said it continued positive trading performance across the year. Strong trading execution across its core brands and the continued success of key innovation have led to further market share volume gains in a UK soft drinks market which saw volume up 3.0% while value increased 8.0%.
Across the UK soft drinks market, the impact of the Soft Drinks Industry Levy has been evident with value growth significantly outstripping volume in the period.
A.G. BARR said it expects to return to a more value-led trading strategy in 2019.
Looking ahead, the company said, 'Our strong and flexible business model, our portfolio of differentiated and growing brands and our well-invested and efficient asset base give us confidence for continued profitable growth as we enter a new financial year.'
A.G. BARR intends to announce its full year financial results on March 26.
Copyright RTT News/dpa-AFX