AG Barr Sees Annual Profit At Top End Of Forecast
Irn-Bru manufacturer AG Barr has said that it expects its annual adjusted pre-tax profit to be at the top end of the current market view, helped by higher prices of its soft drinks.
In July, the company forecast lower annual profit as price increases for its drinks hit volumes. The company had cut prices in 2018 and changed the recipe for some of its drinks in response to a sugar tax, boosting sales in that year.
The British soft drink maker expects adjusted pre-tax profit of just above £37 million for the year that ended on January 25, compared with £45.2 million last year.
"We are taking action to reset our business and we enter the new financial year with confidence and a strong trading plan," CEO Roger White said.
Full-Year Revenue Expectation And Business Re-Engineering Programme
The Rockstar and Rubicon maker expects its full-year revenue to be approximately £255 million, compared with £279 million last year.
AG Barr also said that it has completed the first phase of its business re-engineering programme and expects associated exceptional costs of £1.5 million to £2 million in the year to be almost entirely offset from the removal of a wind turbine in Cumbernauld.