FDBusiness.com

AG Barr Delivers Solid First Half Performance

 Breaking News
  • Arla Foods Further Strengthens its Innovation Agenda As Arla Foods continues its pursuit to become one of the leading dairy innovators in the world, it is taking a bold new approach to innovation and new product development, including creating a new Product and Innovation organisation and appointing a new Senior Vice President. Driving the development of the new organisation is the opportunity Arla has [...]...
  • Orkla Buys Pama Brand Okla, the leading branded consumer goods company in the Nordic region, has purchased the Pama brand, a local brand offering consumers porridge rice in Denmark and Sweden, from PepsiCo for an undisclosed price. Pama had been a part of PepsiCo since its acquisition of The Quaker Oats Company in 2001. Orkla Foods Danmark is currently distributor [...]...
  • Label&Print 2019 Welcomes the Future of the Print Industry Label&Print, which returns to Birmingham’s NEC on 27 & 28 February 2019, will offer visitors an exclusive look at the future of the industry, showcasing the very latest products, services and technologies available to the packaging community. From leading sellers and manufacturers of print and labelling equipment, through to designing, branding and finishing experts, it [...]...
  • PepsiCo Elects CEO Ramon Laguarta as Chairman PepsiCo’s board of directors has unanimously elected Ramon Laguarta as the company’s Chairman, succeeding Indra K. Nooyi who announced in August 2018 her intention to step down as PepsiCo CEO effective October 3, 2018 and remain Chairman until early 2019 to ensure a smooth and seamless transition. The appointment is effective when Chairman Nooyi retires from the company [...]...
  • Visitors to Irish Whiskey Distilleries Up 13% in 2018 The Irish Whiskey Association (IWA) has published statistics which show that there were 923,000 visitors to Irish whiskey distilleries in 2018. This marks a 13.4% increase on 2017, when visitor numbers reached 814,000. The figures are based on returns from 13 Irish whiskey distillery visitor centres and brand homes located across the island of Ireland. Overseas [...]...

AG Barr Delivers Solid First Half Performance

AG Barr Delivers Solid First Half Performance
September 27
09:45 2018

AG Barr has delivered a solid first half financial performance during a period of substantial volatility in the UK soft drinks market. Group revenue grew by 5.5% to £136.9 million for the six months ended 28 July 2018, underpinned by a strong volume growth performance of 7.2%, reflecting the resilience of the UK-based soft drinks group’s core brands and its success in growing market share during this time of change.

Profit before tax and exceptional items increased by 4.0% to £18.2 million. Statutory profit before tax was £18.2 million against £19.4 million in the corresponding period of 2017, which included the exceptional gain from a property disposal.

AG Barr produces some of the UK’s leading drink brands, including IRN-BRU, Rubicon, Strathmore and Funkin.

According to AG Barr, retail pricing increased across the UK market following the implementation of the Soft Drinks Industry Levy (SDIL) in April 2018. During the first half, the total UK soft drinks market grew value by 7.7%, while volume increased by only 3.8%.

Against this backdrop, AG Barr’s core brands performed well in the first half as the group delivered strong volume share gains within the total soft drinks market with volume share increasing by about15%, driven by good performances from IRN-BRU, particularly in England and Wales.

Following the successful execution of its reformulation programme, AG Barr continues to invest significantly behind its core brands, with particular emphasis on IRN-BRU, Rubicon and Strathmore. The group’s long-term innovation programmes are continuing, specifically IRN-BRU XTRA and Rubicon Spring, and new products have been brought to market including Street Drinks by Rubicon.

Roger White, chief executive of AG Barr, comments: “We have delivered a solid financial performance in the first half of the financial year, navigating through the Soft Drinks Industry Levy implementation, reformulation, extremes of weather and CO2 shortages in addition to a dynamic consumer, customer and macro-economic environment. Our core brands have performed well and have good momentum with both consumers and trade customers.”

He adds: “We will continue to ensure our actions and investment decisions support our long term growth strategy. We plan to invest further across the second half of the financial year which we anticipate will have a moderate impact on margins.  We remain on target to meet our profit expectations for the full year.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 18, 2019Multimodal 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements