AG Barr Says Sales Of Its Soft Drinks And Cocktail Mixes Have Been Strong Since The Start Of The Year
AG Barr has said that sales of its soft drinks and cocktail mixes have been strong since the start of the year as people went back to leisure drinking after months of lockdowns, putting the company on track to meet its annual targets.
The company, which best known for Scottish fizzy drink Irn-Bru, said that it is also planning to invest more in products and marketing after "encouraging" trading in recent months as pubs, restaurants and bars were allowed to reopen.
"As lockdown restrictions have eased, we have seen a positive impact on both our sales volume and mix, with a shift back towards 'drink now', hospitality and leisure," the company said in a statement ahead of its general meeting.
AG Barr said that its new launches, particularly Rubicon RAW Energy, have been performing well, and demand for its cocktail brand Funkin remains firm after a solid 2020, when people were drinking more at home.
The company also reiterated that it is planning to recommence dividend payments this year.
Confident Of The Current Year
While AG Barr warned of some lingering uncertainty in the short term, it is confident of the current year after profits slumped in 2020. It had said 2021 would "not be an entirely normal year."