ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

BAG Barr (a.g.) Plc

549.00
-3.00 (-0.54%)
19 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Barr (a.g.) Plc LSE:BAG London Ordinary Share GB00B6XZKY75 ORD 4 1/6P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -3.00 -0.54% 549.00 545.00 550.00 546.00 544.00 546.00 34,686 16:35:08
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Btld & Can Soft Drinks,water 317.6M 33.9M 0.3046 17.89 606.52M

Barr(A.G.) PLC Trading Update

01/02/2024 7:00am

RNS Regulatory News


RNS Number : 6024B
Barr(A.G.) PLC
01 February 2024
 


IMMEDIATE RELEASE                                                                                            1 February 2024

A.G. BARR p.l.c.

("A.G. BARR" or "the Group")

Trading Update

 

A.G. BARR p.l.c., the branded multi-beverage business with a portfolio of market-leading UK brands, including IRN-BRU, Rubicon, FUNKIN and Boost.

 

Strong revenue and profit performance - positive business momentum

We are pleased to report an anticipated strong revenue and profit performance in respect of the full year ended 28 January 2024.


52 weeks ended
28 January 2024

52 weeks ended
29 January 2023

Growth

Group revenue

c.£400m

£317.6m

c.26%

 

Revenue is expected to be c.£400m, representing c.26% year-on-year growth and c.7.6% on a like-for-like basis, excluding the contribution from the Boost Drinks business acquired in December 2022. 

Adjusted profit before tax1 is now expected to be c.£49.5m, up 13.8% on the prior year (2022/23 : £43.5m) and slightly ahead of previous market expectations.

Despite the wet summer weather which impacted Q3 market conditions, our positive underlying brand momentum ensured a strong H2 Group performance :

●    Soft Drinks - including IRN-BRU, Rubicon and Boost

Inflation in the wider soft drinks market continued to drive value growth but impacted volumes within the sector.  However, our brand building and pricing strategy delivered both value and volume growth, ensuring we continue to offer consumers great tasting and affordable brands.

●     FUNKIN Cocktails

Delivered a strong Q4 particularly in the off trade through an excellent performance in the ready to drink segment.  While the on trade channel remains variable, with late night venues experiencing reduced footfall, reports of improved festive trading for a range of hospitality venues is encouraging as we look forward.

●     MOMA Foods  

Further double-digit sales growth, supported by new business wins, most notably within the speciality coffee channel.

We continue to experience cost inflation albeit at a less significant level than in the prior year.  Our supply chain capital investment programme is on track supporting the in-sourcing of the Boost and Rio brands. The associated operational leverage and synergy benefits are supporting the acceleration of our margin rebuild programme.


Roger White, Chief Executive, commented :

"All our teams across the Group have worked hard to deliver an excellent overall performance.  This has been supported by continued brand investment, strong execution of our sales plans and progress across our supply chain improvement programme.  We have positive momentum behind our brands and business as we enter the new financial year.

This strong trading performance, coupled with the benefits already being delivered by our margin rebuild programme, has ensured we close the year with a strong profit performance and confidence in the Group's long-term growth strategy."

For more information, please contact :

A.G. BARR                                                                                            Instinctif Partners

0330 390 3900                                                                                       020 7457 2010/05

Roger White, Chief Executive                                                                 Justine Warren

Stuart Lorimer, Finance Director                                                             Matthew Smallwood


Next update
: Full Year Results - 26 March 2024

 

Note 1 : Reported profit before tax is currently expected to be c.£50.3m reflecting the release of a £0.8m prior year accrual associated with the acquisition earn-out of Boost Drinks Limited in December 2022.

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
 
 
TSTWPURAGUPCGMG

1 Year Barr (a.g.) Chart

1 Year Barr (a.g.) Chart

1 Month Barr (a.g.) Chart

1 Month Barr (a.g.) Chart

Your Recent History

Delayed Upgrade Clock