LONDON (dpa-AFX) - A.G. BARR plc (BAG.L), a producer of drinks brands, including IRN-BRU, Rubicon and Funkin, Tuesday said it expects fiscal year adjusted profit before tax marginally ahead of previous guidance.
Revenue for the year would be about 267 million pounds, a 17.5 percent increase compared to the prior year's 227.0 million pounds. This is also marginally ahead of the revised guidance issued in November 2021 and exceeds the pre-pandemic revenue performance of 255.7 million pounds in 2019/20.
Operating margin before exceptional items for the financial year is expected to be around 15.6 percent, up from 14.8 percent last year.
In its trading update for the 53-week financial year ended January 30, the company said the strong trading performance was achieved despite the unexpected and increased UK Government restrictions related to the Omicron Covid variant.
Both Barr Soft Drinks and Funkin business units have traded well, particularly during the periods when restrictions were eased, adding that Government restrictions have impacted consumer behaviour across the year.
Roger White, Chief Executive, said, 'We plan to further invest in our business in 2022/23 and remain confident in our ability to deliver continued growth in both revenue and profit in the coming year.'
The full year results are expected to be announced on March 29.
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2022 AFX News
