AGM & IMS

RNS Number : 0435H

Barr(A.G.) PLC

23 May 2011

 



FOR IMMEDIATE RELEASE                                                                        23 May 2011

A.G. BARR p.l.c.

Annual General Meeting and Interim Management Statement

A.G. BARR p.l.c., the soft drinks group, will today hold its Annual General Meeting in Glasgow and announces its Interim Management Statement covering trading for the period 30 January to date.

Total revenue for the 15 weeks to 14 May 2011 increased by 6.3% compared to the same period last year.

This is a particularly strong performance when taking account of the prior year growth of c.18% and the increased levels of competitor promotion throughout the category this year.

In the period further investment took place to increase brand awareness of Rubicon with successful consumer and trade activity around the cricket world cup. In addition new products, Rubicon Light and KA still fruit drinks, have been launched into the market - these new additions complement existing ranges and add further depth to the portfolio.  The IRN-BRU summer campaign commenced at the start of May both in Scotland and the North of England with TV advertising and a range of point of purchase activities.

Margins are in line with expectations with continued high levels of input costs, especially in PET and energy, being offset by price increases and further management action to reduce operating costs.  Overall raw material inflation remains at previously guided levels.

The balance sheet remains strong and there have been no significant changes in the financial position of the Company since the publication of the Report and Accounts for the year ending 29 January 2011.

Outlook

We have made a strong start to the year despite significantly increased levels of competitor promotion and a continued uncertain consumer environment.  We aim to grow our sales and protect our operating margins over the balance of the year, with continued investment in brand development at the same time as we focus on costs and reduce the risk associated with volatile raw materials costs.  The combination of good sales momentum, stable margins and strong growth plans at this early stage of the year, give us confidence that we will continue to deliver good growth in line with our expectations, despite the increasingly competitive market place we operate in.

For further information, please contact:

A.G. Barr                                              Tel:      [phone]

Roger White, Chief Executive

Alex Short, Finance Director

Buchanan Communications                 Tel:      [phone]

Tim Thompson

Christian Goodbody

 

END

 

 

MSCSEIFISFFSELI