LONDON (dpa-AFX) - A.G. BARR plc (BAG.L), on Tuesday, said it expects revenue for the 27-week first half of the financial year to be about £134 million, up about 18% over prior year's £113.2 million. On a like-for-like 26-week basis revenue is expected to be up about 13%.
Further, the company noted that trading has been strong across both its business units, Barr Soft Drinks and Funkin, driven by a combination of brand-led initiatives and market factors, some long-term and structural and others more one-off, resulting in a short-term boost to operating margin. Full year operating margin is still anticipated to be slightly ahead of the prior full year.
The company reiterated its guidance from July 20, 2021 that profit for the current 53-week financial year ending January 30, 2022, is expected to be slightly ahead of the performance delivered in the 52-week year prior to COVID-19.
Roger White, Chief Executive, said, '...There is good momentum behind our core brands and we have re-entered the growing big can energy category with our Rubicon RAW Energy range. We plan to increase our brand investment in the second half of the year, building on our progress to date. While uncertainty remains, we are confident in delivering our plans across the balance of the year and meeting our recently revised full year profit expectations.'
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