AG Barr Report First Quarter Sales Increase
Published on May 27 2013 11:04 AM in General Industry
Irn-Bru maker AG Barr has reported a 2.4% increase in first quarter sales.
The drinks manufacturer said that the sales increase for the 15 weeks to 12 May was achieved in spite of poor weather, economic challenges and 'significant increases' in promotional activity from rivals. The company said the results compared "favourably" with the overall drinks market which was flat, mainly due to the bad weather during the spring.
AG Barr said that their position on the possibility of a merger with Britvic had not changed, stating, "The strategic attraction of the merger, as previously described to all shareholders, has not changed and the board will accordingly reconsider the transaction once the Competition Commission findings are available."
Last week Britvic recorded a 51% rise in half-year profit, as well as announcing plans to make annual cost savings of £30 million by 2016. AG Barr manufactures Irn Bru, Tizer and Rubicon, while Britvic is known for making Tango, Robinsons, J2O and also sells PepsiCo brands under licence.