LONDON (dpa-AFX) - A.G. BARR p.l.c. (BAG.L) issued trading update for the 26 weeks ended 30 July 2023, and said it expects revenue for the first half of the financial year to be about £210 million.
H1 revenue is expected to be about £210 million versus 2022/3's £157.9 million. This represents about 33% year-on-year revenue growth - about 10% on a like-for-like basis - excluding the contribution from the Boost Drinks business acquired in December 2022.
The Group delivered revenue and volume growth, reflecting underlying brand momentum, the benefit of higher pricing from early in the year and particularly good weather in June.
Further, the company currently expects its full year profit performance to be marginally above the top end of analyst expectations.
Roger White, Chief Executive, said, 'In March we communicated that 2023/24 would be a year of investment across the business, supporting the Group's long-term revenue and profit growth ambitions. I am pleased to report we have had a strong first half, despite ongoing macro cost challenges. Our focus remains on offering consumers great value, affordable brands...'
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX